Analysts Offer Predictions for Fortis FY2028 Earnings

Fortis Inc. (TSE:FTS - Free Report) - Equities researchers at National Bank Financial issued their FY2028 EPS estimates for shares of Fortis in a research note issued on Monday, January 6th. National Bank Financial analyst P. Kenny forecasts that the company will post earnings per share of $4.00 for the year. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

Other equities analysts have also issued research reports about the stock. Bank of America set a C$60.00 target price on shares of Fortis and gave the stock an "underperform" rating in a research report on Friday, September 20th. Raymond James downgraded Fortis from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their target price on Fortis from C$62.00 to C$65.00 and gave the stock a "sector perform" rating in a report on Thursday, October 3rd. CIBC upped their price target on Fortis from C$63.00 to C$64.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, UBS Group upgraded Fortis to a "strong sell" rating in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$60.89.

Fortis Stock Performance

FTS stock traded up C$0.33 during mid-day trading on Wednesday, reaching C$60.36. 783,813 shares of the stock traded hands, compared to its average volume of 778,512. The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 128.59. The business has a 50-day moving average of C$61.09 and a two-hundred day moving average of C$59.17. The firm has a market capitalization of C$29.89 billion, a PE ratio of 18.92, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a 52 week low of C$51.02 and a 52 week high of C$63.75.

Insider Activity at Fortis

In other Fortis news, Senior Officer Jocelyn Perry sold 11,809 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total value of C$746,178.83. Also, Senior Officer Keri Linda Glitch bought 450 shares of the company's stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of C$61.41 per share, with a total value of C$27,634.59. Following the transaction, the insider now owns 450 shares of the company's stock, valued at C$27,634.59. The trade was a ∞ increase in their ownership of the stock. 0.04% of the stock is currently owned by company insiders.

Fortis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st were paid a $0.83 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is a positive change from Fortis's previous quarterly dividend of $0.59. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.50%. Fortis's dividend payout ratio (DPR) is 77.12%.

About Fortis

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.