Equities Analysts Issue Forecasts for Fortis FY2026 Earnings

Fortis Inc. (NYSE:FTS - Free Report) - Equities researchers at Scotiabank issued their FY2026 earnings estimates for shares of Fortis in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope expects that the utilities provider will post earnings per share of $2.44 for the year. The consensus estimate for Fortis' current full-year earnings is $2.32 per share.

Fortis (NYSE:FTS - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.26. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.01 billion. Fortis had a net margin of 14.06% and a return on equity of 7.01%. During the same period in the previous year, the business earned $0.63 earnings per share.

A number of other research analysts have also recently commented on the company. Raymond James cut Fortis from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. Bank of America assumed coverage on shares of Fortis in a report on Friday, September 20th. They issued an "underperform" rating for the company.

Fortis Stock Down 2.9 %

NYSE:FTS traded down $1.20 during trading hours on Friday, reaching $40.79. The company had a trading volume of 412,090 shares, compared to its average volume of 372,615. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 3.87 and a beta of 0.50. Fortis has a twelve month low of $36.86 and a twelve month high of $46.06. The business's 50-day simple moving average is $43.16 and its two-hundred day simple moving average is $43.00. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 1.32.

Fortis Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.4382 per share. This represents a $1.75 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Tuesday, February 18th. Fortis's dividend payout ratio is presently 76.05%.

Institutional Trading of Fortis

Several hedge funds have recently modified their holdings of FTS. BNP Paribas Financial Markets acquired a new position in Fortis during the third quarter worth $44,000. Versant Capital Management Inc lifted its position in Fortis by 34.1% in the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 256 shares during the last quarter. Cromwell Holdings LLC increased its position in Fortis by 52.2% in the 3rd quarter. Cromwell Holdings LLC now owns 1,837 shares of the utilities provider's stock valued at $83,000 after acquiring an additional 630 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Fortis in the 3rd quarter valued at approximately $149,000. Finally, CHICAGO TRUST Co NA purchased a new stake in shares of Fortis in the 3rd quarter worth about $209,000. 57.77% of the stock is owned by hedge funds and other institutional investors.

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.