Raymond James Has Pessimistic View of Fortis FY2025 Earnings

Fortis Inc. (NYSE:FTS - Free Report) - Analysts at Raymond James cut their FY2025 earnings per share estimates for Fortis in a research note issued on Tuesday, November 5th. Raymond James analyst D. Quezada now expects that the utilities provider will post earnings per share of $2.39 for the year, down from their prior estimate of $2.40. Raymond James has a "Market Perform" rating on the stock. The consensus estimate for Fortis' current full-year earnings is $2.33 per share. Raymond James also issued estimates for Fortis' Q4 2025 earnings at $0.65 EPS.

Fortis (NYSE:FTS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.59 by $0.26. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.01 billion. Fortis had a net margin of 13.90% and a return on equity of 7.04%. During the same quarter in the prior year, the business posted $0.63 EPS.

A number of other research firms have also issued reports on FTS. StockNews.com raised Fortis from a "sell" rating to a "hold" rating in a report on Sunday, August 4th. Bank of America began coverage on shares of Fortis in a research note on Friday, September 20th. They issued an "underperform" rating for the company. Finally, UBS Group raised shares of Fortis to a "strong sell" rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

Fortis Stock Up 0.7 %

Shares of FTS traded up $0.30 during trading hours on Friday, hitting $44.14. 146,301 shares of the company were exchanged, compared to its average volume of 698,832. The firm's 50 day moving average is $44.45 and its 200-day moving average is $41.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.58 and a current ratio of 0.69. Fortis has a 52 week low of $36.86 and a 52 week high of $46.06. The company has a market cap of $21.95 billion, a PE ratio of 18.72, a PEG ratio of 3.87 and a beta of 0.47.

Institutional Trading of Fortis

A number of large investors have recently bought and sold shares of FTS. EverSource Wealth Advisors LLC grew its holdings in shares of Fortis by 123.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 666 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 368 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Fortis during the 2nd quarter worth $32,000. Bessemer Group Inc. boosted its position in Fortis by 53.6% in the first quarter. Bessemer Group Inc. now owns 992 shares of the utilities provider's stock valued at $40,000 after buying an additional 346 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Fortis during the 1st quarter worth approximately $69,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Fortis in the second quarter valued at approximately $80,000. 57.77% of the stock is owned by institutional investors.

Fortis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be issued a $0.615 dividend. This is a positive change from Fortis's previous quarterly dividend of $0.43. The ex-dividend date is Monday, November 18th. This represents a $2.46 annualized dividend and a dividend yield of 5.57%. Fortis's payout ratio is 72.46%.

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.