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: $44.46 to $44.92
• 50-Day Range: $39.51 to $45.65
• 52-Week Range: $36.30 to $45.83
• Volume: 792,595 shs
• Average Volume: 721,365 shs
• Market Capitalization: $22.09 billion
• P/E Ratio: 19.23
• Dividend Yield: 3.81%
• Price Target: $49.00
• Consensus Rating: Sell

Fortis Stock Analysis - MarketRank™

Fortis scored higher than 77% of companies evaluated by MarketBeat, and ranked 46th out of 94 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: 0.7 / 5
• Analyst Rating: Sell

Consensus Rating

Fortis has received a consensus rating of Sell. The company's average rating score is 1.33, and is based on no buy ratings, 1 hold rating, and 2 sell ratings.

Amount of Analyst Coverage

Fortis has only been the subject of 1 research reports in the past 90 days.

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 19.23, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 128.54.

Price to Earnings Ratio vs. Sector

The P/E ratio of Fortis is 19.23, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 93.48.

Price to Earnings Growth Ratio

Fortis has a PEG Ratio of 3.21. 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: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.11% 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 17.5, which indicates bearish sentiment.

Change versus previous month

Short interest in Fortis has recently decreased by 32.54%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 3.3 / 5
• Dividend Strength: Strong

Dividend Leadership

Fortis is a leading dividend payer. It pays a dividend yield of 3.78%, 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 73.28%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Fortis will have a dividend payout ratio of 70.54% next year. This indicates that Fortis will be able to sustain or increase its dividend.

Sustainability and ESG

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

Percentage of Shares Shorted

2.11% 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 17.5, which indicates bearish sentiment.

Change versus previous month

Short interest in Fortis has recently decreased by 32.54%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.4 / 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 0.50 average news sentiment score of Utilities companies.

News Coverage This Week

MarketBeat has tracked 13 news articles for Fortis this week, compared to 5 articles on an average week.

Search Interest

11 people have searched for FTS on MarketBeat in the last 30 days. This is an increase of 10% compared to the previous 30 days.

MarketBeat Follows

Only 2 people have added Fortis to their MarketBeat watchlist in the last 30 days. This is a decrease of -33% 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 start of the year. Since then, FTS stock has increased by 8.5% and is now trading at $44.6150.
View the best growth stocks for 2024 here.

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) issued its quarterly earnings results on Wednesday, July, 31st. The utilities provider reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The utilities provider earned $1.95 billion during the quarter, compared to analysts' expectations of $1.96 billion. Fortis had a trailing twelve-month return on equity of 7.04% and a net margin of 13.90%.

Who are Fortis' major shareholders?

Top institutional investors of Fortis include TD Asset Management Inc (2.45%), 1832 Asset Management L.P. (1.86%), Toronto Dominion Bank (1.83%) and Cibc World Market Inc. (1.59%).

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 Xtrackers California Municipal Bond ETF (CA), BlackRock (BLK), Endologix (ELGX), Chipotle Mexican Grill (CMG), Athabasca Oil (ATH), Micron Technology (MU) and NIC (EGOV).

Company Calendar

• Last Earnings: 7/31/2024
• Ex-Dividend for 9/1 Dividend: 8/20/2024
• Dividend Payable: 9/01/2024
• Today: 9/20/2024
• Next Earnings (Estimated): 10/25/2024
• Fiscal Year End: 12/31/2024

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

Price Target and Rating

• Average Stock Price Target: $49.00
• High Stock Price Target: $61.00
• Low Stock Price Target: $37.00
• Potential Upside/Downside: +9.8%
• Consensus Rating: Sell
• Rating Score (0-4): 1.33
• Research Coverage: 3 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $2.32
• Trailing P/E Ratio: 19.23
• Forward P/E Ratio: 19.23
• P/E Growth: 3.21
• Net Income: $1.17 billion
• Net Margins: 13.90%
• Pretax Margin: 18.97%
• Return on Equity: 7.04%
• Return on Assets: 2.34%

Debt

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

Sales & Book Value

• Annual Sales: $11.39 billion
• Price / Sales: 1.94
• Cash Flow: $4.93 per share
• Price / Cash Flow: 9.05
• Book Value: $32.78 per share
• Price / Book: 1.36

Miscellaneous

• Outstanding Shares: 495,191,000
• Free Float: N/A
• Market Cap: $22.09 billion
• Optionable: Optionable
• Beta: 0.47