National Bank Financial Estimates Fortis FY2028 Earnings

Fortis Inc. (NYSE:FTS) – Equities research analysts at National Bank Financial issued their FY2028 earnings per share (EPS) estimates for shares of Fortis in a research note issued to investors on Monday, January 6th. National Bank Financial analyst P. Kenny anticipates that the utilities provider will post earnings of $2.79 per share for the year. The consensus estimate for Fortis’ current full-year earnings is $2.32 per share.

Fortis (NYSE:FTS) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.26. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Fortis had a net margin of 14.06% and a return on equity of 7.01%. During the same period in the previous year, the business earned $0.63 earnings per share.

Several other brokerages have also recently commented on FTS. UBS Group raised Fortis to a “strong sell” rating in a report on Tuesday, September 10th. Raymond James cut Fortis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Finally, Bank of America assumed coverage on Fortis in a report on Friday, September 20th. They issued an “underperform” rating for the company.

Fortis Stock Up 1.0 %

FTS stock opened at $41.82 on Wednesday. The firm’s 50-day moving average is $43.26 and its two-hundred day moving average is $43.01. The company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 3.87 and a beta of 0.49. Fortis has a 52 week low of $36.86 and a 52 week high of $46.06. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32.

Fortis Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be issued a $0.4382 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 4.19%. Fortis’s payout ratio is currently 76.47%.

Institutional Trading of Fortis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of Fortis by 34.1% in the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider’s stock valued at $42,000 after buying an additional 256 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Fortis in the 3rd quarter worth $44,000. Cromwell Holdings LLC raised its position in shares of Fortis by 52.2% during the third quarter. Cromwell Holdings LLC now owns 1,837 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 630 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Fortis during the third quarter valued at $149,000. Finally, CHICAGO TRUST Co NA acquired a new position in shares of Fortis in the 3rd quarter valued at $209,000. 57.77% of the stock is owned by institutional investors and hedge funds.

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.