National Bank Financial Forecasts Fortis Q4 Earnings

Fortis Inc. (TSE:FTS - Free Report) - National Bank Financial issued their Q4 2024 earnings per share estimates for shares of Fortis in a report released on Tuesday, January 28th. National Bank Financial analyst P. Kenny anticipates that the company will earn $0.82 per share for the quarter. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

Other research analysts also recently issued research reports about the company. CIBC increased their target price on Fortis from C$63.00 to C$64.00 and gave the stock a "neutral" rating in a report on Wednesday, January 8th. Raymond James downgraded shares of Fortis from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada increased their target price on shares of Fortis from C$62.00 to C$65.00 and gave the stock a "sector perform" rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, Fortis presently has an average rating of "Hold" and an average target price of C$60.89.

Fortis Stock Up 1.6 %

TSE:FTS traded up C$0.98 during mid-day trading on Thursday, reaching C$61.96. The stock had a trading volume of 1,053,657 shares, compared to its average volume of 1,426,189. The company has a debt-to-equity ratio of 128.59, a current ratio of 0.69 and a quick ratio of 0.36. The company has a market capitalization of C$30.68 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. Fortis has a 1-year low of C$51.02 and a 1-year high of C$63.75. The stock's 50 day simple moving average is C$60.83 and its two-hundred day simple moving average is C$59.91.

Fortis (TSE:FTS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$0.85 earnings per share for the quarter, topping the consensus estimate of C$0.81 by C$0.04. Fortis had a net margin of 14.35% and a return on equity of 7.44%. During the same quarter last year, the company posted $0.84 earnings per share.

Insider Buying and Selling at Fortis

In related news, Senior Officer Jocelyn Perry sold 11,809 shares of Fortis stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total transaction of C$746,178.83. Also, Director Gary Joseph Smith sold 21,716 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$61.45, for a total transaction of C$1,334,543.75. 0.04% of the stock is currently owned by company insiders.

Fortis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Sunday, December 1st were given a $0.83 dividend. The ex-dividend date was Monday, November 18th. This is an increase from Fortis's previous quarterly dividend of $0.59. This represents a $3.32 annualized dividend and a yield of 5.36%. Fortis's dividend payout ratio (DPR) is currently 77.12%.

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.