Fortis FY2025 EPS Increased by National Bank Financial

Fortis Inc. (NYSE:FTS - Free Report) - Investment analysts at National Bank Financial increased their FY2025 EPS estimates for shares of Fortis in a research note issued on Tuesday, April 22nd. National Bank Financial analyst P. Kenny now anticipates that the utilities provider will post earnings per share of $2.41 for the year, up from their previous forecast of $2.33. The consensus estimate for Fortis' current full-year earnings is $2.35 per share.

Separately, Jefferies Financial Group assumed coverage on Fortis in a report on Thursday, February 13th. They set a "hold" rating for the company. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, Fortis presently has a consensus rating of "Hold".

Fortis Stock Up 0.1 %

FTS stock traded up $0.05 during mid-day trading on Friday, hitting $48.62. 433,895 shares of the company were exchanged, compared to its average volume of 628,117. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30. Fortis has a twelve month low of $38.15 and a twelve month high of $48.94. The firm has a fifty day simple moving average of $45.47 and a 200 day simple moving average of $44.01. The company has a market capitalization of $24.39 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.94 and a beta of 0.46.

Fortis (NYSE:FTS - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.59 earnings per share 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 analyst estimates of $2.08 billion. Fortis had a net margin of 14.12% and a return on equity of 7.09%. During the same period last year, the business earned $0.72 EPS.

Hedge Funds Weigh In On Fortis

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of Fortis by 724.3% during the fourth quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 507 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Fortis during the fourth quarter worth approximately $38,000. Versant Capital Management Inc boosted its position in shares of Fortis by 34.1% during the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider's stock worth $42,000 after buying an additional 256 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Fortis by 286.7% during the first quarter. Farther Finance Advisors LLC now owns 1,106 shares of the utilities provider's stock worth $51,000 after buying an additional 820 shares during the period. Finally, NBC Securities Inc. boosted its position in shares of Fortis by 158,500.0% during the first quarter. NBC Securities Inc. now owns 1,586 shares of the utilities provider's stock worth $72,000 after buying an additional 1,585 shares during the period. 57.77% of the stock is owned by institutional investors.

Fortis Cuts Dividend

The business 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 $0.4324 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, May 16th. Fortis's dividend payout ratio (DPR) is presently 72.03%.

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.