National Bank Financial Expects Reduced Earnings for Fortis

Fortis Inc. (NYSE:FTS - Free Report) - Stock analysts at National Bank Financial reduced their FY2025 earnings per share estimates for Fortis in a report issued on Monday, February 17th. National Bank Financial analyst P. Kenny now expects that the utilities provider will post earnings of $2.33 per share for the year, down from their prior estimate of $2.35. The consensus estimate for Fortis' current full-year earnings is $2.35 per share. National Bank Financial also issued estimates for Fortis' FY2026 earnings at $2.44 EPS.

FTS has been the topic of a number of other research reports. Jefferies Financial Group started coverage on shares of Fortis in a research report on Thursday, February 13th. They issued a "hold" rating on the stock. Raymond James downgraded shares of Fortis from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, Fortis currently has a consensus rating of "Hold".

Fortis Stock Up 0.7 %

NYSE FTS traded up $0.29 during trading on Wednesday, hitting $44.07. The stock had a trading volume of 335,522 shares, compared to its average volume of 615,155. The company has a market capitalization of $22.00 billion, a PE ratio of 18.67, a P/E/G ratio of 3.96 and a beta of 0.50. Fortis has a 12 month low of $36.86 and a 12 month high of $46.06. The company's 50-day moving average price is $42.38 and its two-hundred day moving average price is $43.57. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.63.

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

Institutional Trading of Fortis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in shares of Fortis by 0.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 293,656 shares of the utilities provider's stock valued at $12,198,000 after acquiring an additional 2,628 shares during the period. Vise Technologies Inc. acquired a new stake in Fortis in the 4th quarter valued at about $216,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Fortis by 114.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 341,377 shares of the utilities provider's stock worth $14,167,000 after purchasing an additional 182,101 shares during the period. Twinbeech Capital LP acquired a new position in Fortis during the fourth quarter worth approximately $302,000. Finally, Two Sigma Investments LP bought a new stake in Fortis in the fourth quarter valued at approximately $289,000. 57.77% of the stock is owned by institutional investors.

Fortis Cuts 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 paid a $0.4324 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.73 annualized dividend and a dividend yield of 3.93%. Fortis's dividend payout ratio is presently 71.61%.

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.