Equities Analysts Offer Predictions for Fortis Q1 Earnings

Fortis Inc. (NYSE:FTS) – Investment analysts at Raymond James boosted their Q1 2025 earnings estimates for shares of Fortis in a report issued on Monday, February 17th. Raymond James analyst T. Genzebu now forecasts that the utilities provider will earn $0.66 per share 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) last released its earnings results on Friday, February 14th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fortis had a net margin of 14.12% and a return on equity of 7.09%. During the same period in the prior year, the company posted $0.72 EPS.

Separately, Jefferies Financial Group began coverage on shares of Fortis in a research report on Thursday, February 13th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Fortis Stock Performance

Shares of NYSE:FTS opened at $44.07 on Thursday. The company has a market capitalization of $22.00 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 3.96 and a beta of 0.50. The firm’s 50 day simple moving average is $42.38 and its 200 day simple moving average is $43.57. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.63. Fortis has a fifty-two week low of $36.86 and a fifty-two week high of $46.06.

Institutional Trading of Fortis

A number of hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Fortis during the 4th quarter worth approximately $182,242,000. Geode Capital Management LLC increased its stake in Fortis by 77.1% during the 4th quarter. Geode Capital Management LLC now owns 4,257,486 shares of the utilities provider’s stock worth $180,686,000 after purchasing an additional 1,853,082 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Fortis by 42.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,443,333 shares of the utilities provider’s stock worth $184,878,000 after purchasing an additional 1,316,394 shares in the last quarter. National Bank of Canada FI increased its stake in Fortis by 21.8% during the 3rd quarter. National Bank of Canada FI now owns 5,190,336 shares of the utilities provider’s stock worth $235,839,000 after purchasing an additional 930,331 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Fortis by 10.9% during the 4th quarter. Toronto Dominion Bank now owns 6,218,116 shares of the utilities provider’s stock worth $258,068,000 after purchasing an additional 612,395 shares in the last quarter. 57.77% of the stock is currently owned by institutional investors and hedge funds.

Fortis Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be given 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 dividend yield of 3.93%. Fortis’s dividend payout ratio is 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.