Raymond James Issues Optimistic Estimate for Fortis Earnings

Fortis Inc. (NYSE:FTS) – Analysts at Raymond James increased their FY2025 earnings estimates for Fortis in a report issued on Thursday, May 8th. Raymond James analyst T. Genzebu now expects that the utilities provider will post earnings of $2.45 per share for the year, up from their previous forecast of $2.43. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Raymond James also issued estimates for Fortis’ Q1 2026 earnings at $0.72 EPS, Q2 2026 earnings at $0.49 EPS, Q3 2026 earnings at $0.63 EPS, Q4 2026 earnings at $0.71 EPS and FY2026 earnings at $2.54 EPS.

A number of other equities analysts have also recently issued reports on FTS. Royal Bank of Canada increased their price target on Fortis from $69.00 to $72.00 and gave the stock a “sector perform” rating in a report on Thursday. Desjardins assumed coverage on shares of Fortis in a research report on Tuesday, May 6th. They set a “hold” rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Fortis in a research note on Thursday, February 13th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Fortis has an average rating of “Hold” and a consensus target price of $72.00.

Fortis Trading Down 1.0%

NYSE FTS opened at $48.02 on Monday. The stock has a market capitalization of $24.09 billion, a P/E ratio of 20.35, a P/E/G ratio of 3.94 and a beta of 0.50. The business has a 50 day simple moving average of $46.45 and a 200 day simple moving average of $44.31. 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 one year low of $38.15 and a one year high of $50.06.

Fortis (NYSE:FTS) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $3.42 billion. Fortis had a return on equity of 7.09% and a net margin of 14.12%. During the same period last year, the company posted $0.93 EPS.

Institutional Investors Weigh In On Fortis

A number of hedge funds have recently added to or reduced their stakes in FTS. QV Investors Inc. increased its stake in Fortis by 6.0% during the 4th quarter. QV Investors Inc. now owns 1,074,643 shares of the utilities provider’s stock valued at $44,631,000 after purchasing an additional 60,380 shares in the last quarter. JCIC Asset Management Inc. grew its holdings in shares of Fortis by 5.5% during the fourth quarter. JCIC Asset Management Inc. now owns 5,087 shares of the utilities provider’s stock valued at $211,000 after buying an additional 267 shares during the last quarter. Code Waechter LLC increased its position in shares of Fortis by 1.5% during the fourth quarter. Code Waechter LLC now owns 18,708 shares of the utilities provider’s stock worth $778,000 after acquiring an additional 277 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Fortis by 847.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 181,586 shares of the utilities provider’s stock worth $7,548,000 after acquiring an additional 162,430 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in shares of Fortis by 3.1% in the 4th quarter. Hennessy Advisors Inc. now owns 121,776 shares of the utilities provider’s stock worth $5,062,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 57.77% of the company’s stock.

Fortis Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be issued a $0.4324 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.73 annualized dividend and a yield of 3.60%. Fortis’s payout ratio is currently 71.73%.

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.