National Bank Financial Expects Weaker Earnings for Fortis

Fortis Inc. (TSE:FTS - Free Report) - Equities research analysts at National Bank Financial cut their FY2026 earnings per share (EPS) estimates for Fortis in a research report issued to clients and investors on Monday, February 17th. National Bank Financial analyst P. Kenny now forecasts that the company will earn $3.49 per share for the year, down from their prior estimate of $3.53. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

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

Fortis Trading Up 1.1 %

TSE:FTS traded up C$0.68 during midday trading on Thursday, reaching C$62.73. 2,494,219 shares of the stock traded hands, compared to its average volume of 1,726,503. The stock has a market capitalization of C$31.03 billion, a P/E ratio of 18.62, a PEG ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. The company has a fifty day moving average of C$60.82 and a 200 day moving average of C$60.74. Fortis has a 12 month low of C$51.02 and a 12 month high of C$64.39.

Fortis Dividend Announcement

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

Insider Transactions at Fortis

In other news, Senior Officer Jocelyn Perry sold 11,809 shares of Fortis 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 transaction of C$746,178.83. Insiders own 0.04% of the company's stock.

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.