National Bank Financial Predicts Lower Earnings for Fortis

Fortis Inc. (TSE:FTS) – Investment analysts at National Bank Financial lowered their FY2026 EPS estimates for Fortis in a research note issued on Monday, February 17th. National Bank Financial analyst P. Kenny now forecasts that the company will earn $3.49 per share for the year, down from their previous forecast of $3.53. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Several other analysts have also recently commented on FTS. Scotiabank increased their price target on shares of Fortis from C$63.00 to C$66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their price target on shares of Fortis from C$65.00 to C$69.00 in a research note on Tuesday. Raymond James increased their price target on shares of Fortis from C$61.00 to C$62.50 in a research note on Tuesday. CIBC increased their price target on shares of Fortis from C$64.00 to C$65.00 in a research note on Tuesday. Finally, Jefferies Financial Group set a C$67.00 price target on shares of Fortis and gave the company a “hold” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, Fortis presently has a consensus rating of “Hold” and a consensus target price of C$62.45.

Fortis Stock Performance

TSE FTS opened at C$62.73 on Thursday. The firm has a market cap of C$31.03 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 3.01 and a beta of 0.23. The company has a 50 day moving average of C$60.82 and a 200-day moving average of C$60.74. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. Fortis has a 1-year low of C$51.02 and a 1-year high of C$64.39.

Insider Buying and Selling at Fortis

In other Fortis news, Senior Officer Jocelyn Perry sold 11,809 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total value of C$746,178.83. Insiders own 0.04% of the company’s stock.

Fortis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 3.92%. Fortis’s payout ratio is presently 73.02%.

About Fortis

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.