Equities Analysts Set Expectations for Fortis Q1 Earnings

Fortis Inc. (NYSE:FTS - Free Report) - Equities research analysts at National Bank Financial issued their Q1 2025 earnings per share (EPS) estimates for shares of Fortis in a report issued on Tuesday, April 22nd. National Bank Financial analyst P. Kenny anticipates that the utilities provider will earn $0.70 per share for the quarter. The consensus estimate for Fortis' current full-year earnings is $2.35 per share.

Fortis (NYSE:FTS - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fortis had a return on equity of 7.09% and a net margin of 14.12%. During the same quarter in the previous year, the company posted $0.72 earnings per share.

Separately, Jefferies Financial Group assumed coverage on shares of Fortis in a research note on Thursday, February 13th. They issued a "hold" rating for the company. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, Fortis presently has an average rating of "Hold".

Fortis Trading Down 1.3 %

Shares of FTS opened at $48.31 on Thursday. Fortis has a twelve month low of $38.15 and a twelve month high of $48.94. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock has a market cap of $24.23 billion, a PE ratio of 20.47, a P/E/G ratio of 3.94 and a beta of 0.46. The business's 50-day moving average price is $45.29 and its 200-day moving average price is $43.93.

Fortis Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be paid a dividend of $0.4324 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, May 16th. Fortis's dividend payout ratio is 72.03%.

Institutional Trading of Fortis

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Fortis by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 21,722,993 shares of the utilities provider's stock worth $902,656,000 after acquiring an additional 364,391 shares in the last quarter. TD Asset Management Inc. grew its position in Fortis by 1.4% during the 4th quarter. TD Asset Management Inc. now owns 12,266,121 shares of the utilities provider's stock valued at $509,425,000 after purchasing an additional 173,226 shares during the last quarter. Scotia Capital Inc. increased its stake in Fortis by 3.7% during the 4th quarter. Scotia Capital Inc. now owns 9,148,037 shares of the utilities provider's stock valued at $379,614,000 after purchasing an additional 329,767 shares in the last quarter. Toronto Dominion Bank raised its holdings in Fortis by 10.9% in the fourth quarter. Toronto Dominion Bank now owns 6,218,116 shares of the utilities provider's stock worth $258,068,000 after buying an additional 612,395 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Fortis by 42.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 4,443,333 shares of the utilities provider's stock valued at $184,878,000 after buying an additional 1,316,394 shares during the last quarter. 57.77% of the stock is owned by institutional investors.

Fortis Company Profile

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.

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