National Bank Financial Weighs in on Fortis FY2025 Earnings

Fortis Inc. (TSE:FTS - Free Report) - Equities researchers at National Bank Financial lowered their FY2025 earnings per share (EPS) estimates for shares of Fortis in a research note issued on Monday, February 17th. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $3.33 for the year, down from their previous forecast of $3.37. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

Several other equities research analysts have also commented on FTS. Raymond James boosted their price target on Fortis from C$61.00 to C$62.50 in a research note on Tuesday. Scotiabank boosted their target price on Fortis from C$63.00 to C$66.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their target price on Fortis from C$65.00 to C$69.00 in a report on Tuesday. Jefferies Financial Group set a C$67.00 price target on Fortis and gave the stock a "hold" rating in a research note on Thursday, February 13th. Finally, CIBC increased their price objective on shares of Fortis from C$64.00 to C$65.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$62.45.

Fortis Price Performance

Shares of TSE:FTS traded up C$0.65 on Wednesday, reaching C$62.70. 1,799,923 shares of the company were exchanged, compared to its average volume of 1,699,547. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. The company has a 50-day moving average of C$60.82 and a 200-day moving average of C$60.74. Fortis has a 1-year low of C$51.02 and a 1-year high of C$64.39. The firm has a market cap of C$31.02 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23.

Insider Transactions at Fortis

In related news, Senior Officer Jocelyn Perry sold 11,809 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total value of C$746,178.83. Insiders own 0.04% of the company's stock.

Fortis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 3.92%. Fortis's dividend payout ratio (DPR) is currently 73.02%.

About Fortis

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.