Raymond James Has Positive Outlook for Fortis Q1 Earnings

Fortis Inc. (NYSE:FTS - Free Report) - Raymond James raised their Q1 2025 earnings per share estimates for Fortis in a research note issued on Monday, February 17th. Raymond James analyst T. Genzebu now expects that the utilities provider will post earnings per share of $0.66 for the quarter, up from their prior estimate of $0.64. Raymond James has a "Market Perform" rating on the stock. The consensus estimate for Fortis' current full-year earnings is $2.35 per share. Raymond James also issued estimates for Fortis' Q2 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $2.34 EPS.

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

Separately, Jefferies Financial Group began coverage on shares of Fortis in a report on Thursday, February 13th. They issued a "hold" rating on the stock. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold".

Fortis Stock Performance

NYSE FTS traded up $0.29 during trading hours on Thursday, reaching $44.07. The company's stock had a trading volume of 488,605 shares, compared to its average volume of 623,391. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30. The business has a 50-day simple moving average of $42.38 and a 200 day simple moving average of $43.57. Fortis has a 52 week low of $36.86 and a 52 week high of $46.06. The stock has a market cap of $22.00 billion, a PE ratio of 18.67, a PEG ratio of 3.96 and a beta of 0.50.

Institutional Investors Weigh In On Fortis

Hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc raised its holdings in 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 purchasing an additional 256 shares in the last quarter. JCIC Asset Management Inc. grew its position in Fortis by 5.5% in the fourth quarter. JCIC Asset Management Inc. now owns 5,087 shares of the utilities provider's stock worth $211,000 after buying an additional 267 shares during the last quarter. Code Waechter LLC grew its position in Fortis by 1.5% during the 4th quarter. Code Waechter LLC now owns 18,708 shares of the utilities provider's stock worth $778,000 after purchasing an additional 277 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Fortis by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,515 shares of the utilities provider's stock worth $396,000 after purchasing an additional 277 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Fortis by 4.7% during the 4th quarter. Benjamin Edwards Inc. now owns 6,265 shares of the utilities provider's stock worth $260,000 after purchasing an additional 282 shares in the last quarter. Institutional investors own 57.77% of the company's stock.

Fortis Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be issued a $0.4324 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.73 dividend on an annualized basis and a yield of 3.93%. Fortis's dividend payout ratio is currently 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.