FY2025 Earnings Estimate for Fortis Issued By Scotiabank

Fortis Inc. (TSE:FTS - Free Report) - Stock analysts at Scotiabank upped their FY2025 earnings per share estimates for Fortis in a report released on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the company will post earnings of $3.35 per share for the year, up from their prior estimate of $3.34. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

FTS has been the topic of a number of other reports. 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. CIBC increased their price objective on Fortis from C$63.00 to C$64.00 and gave the company a "neutral" rating in a research note on Wednesday, January 8th. Bank of America set a C$60.00 target price on Fortis and gave the stock an "underperform" rating in a research note on Friday, September 20th. Finally, Raymond James lowered Fortis from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of C$60.89.

Fortis Stock Down 2.2 %

Shares of FTS opened at C$58.92 on Monday. The company's 50-day simple moving average is C$61.07 and its 200-day simple moving average is C$59.25. The company has a debt-to-equity ratio of 128.59, a quick ratio of 0.36 and a current ratio of 0.69. Fortis has a 1 year low of C$51.02 and a 1 year high of C$63.75. The stock has a market capitalization of C$29.18 billion, a PE ratio of 18.47, a P/E/G ratio of 3.01 and a beta of 0.23.

Insider Activity

In other news, Senior Officer Jocelyn Perry sold 11,809 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total value of C$746,178.83. Also, Senior Officer Keri Linda Glitch bought 450 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of C$61.41 per share, with a total value of C$27,634.59. Following the completion of the transaction, the insider now owns 450 shares in the company, valued at approximately C$27,634.59. This trade represents a ∞ increase in their ownership of the stock. Company insiders own 0.04% of the company's stock.

Fortis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st were given a dividend of $0.83 per share. This is a boost from Fortis's previous quarterly dividend of $0.59. This represents a $3.32 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Monday, November 18th. Fortis's dividend payout ratio is currently 77.12%.

About Fortis

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.