Fortis (FTS) Stock Price, News & Analysis

Company Overview

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. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 592,000 customers in southern and central Alberta; owns four hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW. Additionally, it provides integrated electric utility service to approximately 69,000 customers in Ontario; approximately 275,000 customers in Newfoundland and Labrador; approximately 34,000 customers on Grand Cayman, Cayman Islands; and approximately 17,000 customers on certain islands in Turks and Caicos. It also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 90,500 circuit Kilometers (km) of distribution lines; and approximately 51,600 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

Key Stats

• Today's Range: $44.31 to $44.82
• 50-Day Range: $42.57 to $45.80
• 52-Week Range: $36.86 to $46.06
• Volume: 101,342 shs
• Average Volume: 717,419 shs
• Market Capitalization: $22.22 billion
• P/E Ratio: 18.78
• Dividend Yield: 4.07%
• Price Target: N/A
• Consensus Rating: Strong Sell

Fortis Stock Analysis - MarketRank™

Fortis scored higher than 40% of companies evaluated by MarketBeat, and ranked 74th out of 92 stocks in the utilities sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: N/A
• Analyst Rating: N/A

Consensus Rating

There is not enough analysis data for Fortis.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 3.88%

Earnings Growth

Earnings for Fortis are expected to grow by 3.88% in the coming year, from $2.32 to $2.41 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Fortis is 18.76, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 126.99.

Price to Earnings Ratio vs. Sector

The P/E ratio of Fortis is 18.76, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 99.26.

Price to Earnings Growth Ratio

Fortis has a PEG Ratio of 4.09. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Fortis has a P/B Ratio of 1.36. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

1.98% of the outstanding shares of Fortis have been sold short.

Short Interest Ratio / Days to Cover

Fortis has a short interest ratio ("days to cover") of 16.1, which indicates bearish sentiment.

Change versus previous month

Short interest in Fortis has recently increased by 36.15%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Fortis is a leading dividend payer. It pays a dividend yield of 4.06%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Fortis does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Fortis is 76.47%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on EPS estimates, Fortis will have a dividend payout ratio of 75.52% in the coming year. This indicates that Fortis may not be able to sustain their current dividend.

Sustainability and ESG

• Score: 3.7 / 5
• Environmental Score: -3.20

Percentage of Shares Shorted

1.98% of the outstanding shares of Fortis have been sold short.

Short Interest Ratio / Days to Cover

Fortis has a short interest ratio ("days to cover") of 16.1, which indicates bearish sentiment.

Change versus previous month

Short interest in Fortis has recently increased by 36.15%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.2 / 5
• News Sentiment: 1.04

News Sentiment

Fortis has a news sentiment score of 1.04. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.68 average news sentiment score of Utilities companies.

News Coverage This Week

MarketBeat has tracked 6 news articles for Fortis this week, compared to 6 articles on an average week.

Search Interest

Only 18 people have searched for FTS on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

MarketBeat Follows

Only 3 people have added Fortis to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Fortis insiders have not sold or bought any company stock.

Percentage Held by Institutions

57.77% of the stock of Fortis is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

FTS Stock Analysis - Frequently Asked Questions

How have FTS shares performed this year?

Fortis' stock was trading at $41.13 at the beginning of the year. Since then, FTS stock has increased by 8.6% and is now trading at $44.65.
View the best growth stocks for 2024 here.

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) announced its quarterly earnings results on Tuesday, November, 5th. The utilities provider reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.26. The utilities provider earned $2.03 billion during the quarter, compared to the consensus estimate of $2.01 billion. Fortis had a trailing twelve-month return on equity of 7.03% and a net margin of 14.06%.

Who are Fortis' major shareholders?

Fortis' top institutional shareholders include Toronto Dominion Bank (1.13%), National Bank of Canada FI (1.04%), CIBC Asset Management Inc (0.79%) and Connor Clark & Lunn Investment Management Ltd. (0.75%).

How do I buy shares of Fortis?

Shares of FTS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Fortis own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Fortis investors own include Waste Connections (WCN), American Water Works (AWK), AUO (AUOTY), DiamondRock Hospitality (DRH), The RMR Group (RMR), iShares Micro-Cap ETF (IWC) and Triple Flag Precious Metals (TFPM).

Company Calendar

• Ex-Dividend for 9/1 Dividend: 8/20/2024
• Dividend Payable: 9/01/2024
• Last Earnings: 11/05/2024
• Ex-Dividend for 12/1 Dividend: 11/18/2024
• Today: 11/21/2024
• Dividend Payable: 12/01/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/14/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Utilities
• Industry: Electric services
• Sub-Industry: Utilities
• Current Symbol: NYSE:FTS
• CUSIP: N/A
• CIK: 1058084
• Web: www.fortisinc.com
• Phone: (709) 737-2800
• Fax: 709-737-5307
• Employees: 9,600
• Year Founded: N/A

Profitability

• EPS (Most Recent Fiscal Year): $2.38
• Trailing P/E Ratio: 18.78
• Forward P/E Ratio: 19.27
• P/E Growth: 4.04
• Net Income: $1.17 billion
• Net Margins: 14.06%
• Pretax Margin: 18.97%
• Return on Equity: 7.03%
• Return on Assets: 2.33%

Debt

• Debt-to-Equity Ratio: 1.26
• Current Ratio: 0.69
• Quick Ratio: 0.58

Sales & Book Value

• Annual Sales: $8.53 billion
• Price / Sales: 2.61
• Cash Flow: $5.01 per share
• Price / Cash Flow: 8.93
• Book Value: $32.78 per share
• Price / Book: 1.36

Miscellaneous

• Outstanding Shares: 497,290,000
• Free Float: N/A
• Market Cap: $22.23 billion
• Optionable: Optionable
• Beta: 0.47