National Bank Financial Comments on Fortis FY2025 Earnings

Fortis Inc. (NYSE:FTS) – Equities research analysts at National Bank Financial dropped their FY2025 EPS estimates for shares of Fortis in a note issued to investors on Monday, February 17th. National Bank Financial analyst P. Kenny now forecasts that the utilities provider will post earnings of $2.33 per share for the year, down from their previous estimate of $2.35. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. National Bank Financial also issued estimates for Fortis’ FY2026 earnings at $2.44 EPS.

A number of other equities analysts have also recently issued reports on the stock. Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group started coverage on Fortis in a research note on Thursday, February 13th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Fortis Stock Down 2.8 %

Shares of NYSE FTS opened at $43.62 on Wednesday. The company has a market cap of $21.78 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 4.05 and a beta of 0.50. 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 has a 12 month low of $36.86 and a 12 month high of $46.06. The stock has a 50-day moving average price of $42.34 and a two-hundred day moving average price of $43.56.

Fortis (NYSE:FTS) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fortis had a return on equity of 7.19% and a net margin of 14.12%. During the same quarter in the previous year, the firm earned $0.72 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FTS. Versant Capital Management Inc lifted its holdings in 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 during the period. JCIC Asset Management Inc. boosted its position in shares of Fortis by 5.5% during the 4th quarter. JCIC Asset Management Inc. now owns 5,087 shares of the utilities provider’s stock valued at $211,000 after purchasing an additional 267 shares in the last quarter. Code Waechter LLC boosted its position in shares of Fortis by 1.5% during the 4th quarter. Code Waechter LLC now owns 18,708 shares of the utilities provider’s stock valued at $778,000 after purchasing an additional 277 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Fortis by 3.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,515 shares of the utilities provider’s stock worth $396,000 after purchasing an additional 277 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Fortis by 4.7% in the fourth quarter. Benjamin Edwards Inc. now owns 6,265 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 282 shares in the last quarter. Institutional investors own 57.77% of the company’s stock.

Fortis Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be paid a $0.4324 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.73 annualized dividend and a dividend yield of 3.97%. Fortis’s payout ratio is 80.08%.

About Fortis

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.