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QQQ   444.01
Stock market today: Asian shares are mostly higher after another set of Wall St records
3 Value Stocks Too Small For Buffett’s Portfolio
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Krispy Kreme's Sweet Deal: McDonald's Partnership Sparks Growth?
Foot Locker Builds Up Another Head of Steam; Gains Imminent
S&P 500   5,254.35
DOW   39,807.37
QQQ   444.01
Stock market today: Asian shares are mostly higher after another set of Wall St records
3 Value Stocks Too Small For Buffett’s Portfolio
Delta Airline’s Put Option Activity Isn’t Bad News
Disney Stock Catches 3 Upgrades In a Single Week
Walgreens Boots Alliance: Deep Value With Nowhere to Go But Up
Krispy Kreme's Sweet Deal: McDonald's Partnership Sparks Growth?
Foot Locker Builds Up Another Head of Steam; Gains Imminent
S&P 500   5,254.35
DOW   39,807.37
QQQ   444.01
Stock market today: Asian shares are mostly higher after another set of Wall St records
3 Value Stocks Too Small For Buffett’s Portfolio
Delta Airline’s Put Option Activity Isn’t Bad News
Disney Stock Catches 3 Upgrades In a Single Week
Walgreens Boots Alliance: Deep Value With Nowhere to Go But Up
Krispy Kreme's Sweet Deal: McDonald's Partnership Sparks Growth?
Foot Locker Builds Up Another Head of Steam; Gains Imminent
S&P 500   5,254.35
DOW   39,807.37
QQQ   444.01
Stock market today: Asian shares are mostly higher after another set of Wall St records
3 Value Stocks Too Small For Buffett’s Portfolio
Delta Airline’s Put Option Activity Isn’t Bad News
Disney Stock Catches 3 Upgrades In a Single Week
Walgreens Boots Alliance: Deep Value With Nowhere to Go But Up
Krispy Kreme's Sweet Deal: McDonald's Partnership Sparks Growth?
Foot Locker Builds Up Another Head of Steam; Gains Imminent
NYSE:FTS

Fortis (FTS) Stock Price, News & Analysis

$39.50
+0.13 (+0.33%)
(As of 03/28/2024 ET)
Today's Range
$39.34
$39.55
50-Day Range
$38.49
$40.49
52-Week Range
$36.30
$46.28
Volume
762,427 shs
Average Volume
738,530 shs
Market Capitalization
$19.38 billion
P/E Ratio
17.17
Dividend Yield
4.43%
Price Target
$55.13

Fortis MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
39.6% Upside
$55.13 Price Target
Short Interest
Healthy
1.62% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-3.20
Upright™ Environmental Score
News Sentiment
0.24mentions of Fortis in the last 14 days
Based on 5 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
1.27%
From $2.37 to $2.40 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.63 out of 5 stars

Utilities Sector

16th out of 90 stocks

Electric Services Industry

7th out of 40 stocks

FTS stock logo

About Fortis Stock (NYSE:FTS)

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. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 592,000 customers in southern and central Alberta; owns four hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW. Additionally, it provides integrated electric utility service to approximately 69,000 customers in Ontario; approximately 275,000 customers in Newfoundland and Labrador; approximately 34,000 customers on Grand Cayman, Cayman Islands; and approximately 17,000 customers on certain islands in Turks and Caicos. It also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 90,500 circuit Kilometers (km) of distribution lines; and approximately 51,600 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

FTS Stock Price History

FTS Stock News Headlines

FTS: What does Argus have to say about FTS?
Central Banks Preparing for US Dollar Collapse?
China is spearheading this blatant de-dollarization push, dominating the physical gold market through massive central bank buying. Their ultimate goal? Ditching the greenback in favor of local BRICS currencies.
Better Stock: Fortis vs Enbridge
Fortis' (TSE:FTS) Returns Have Hit A Wall
Central Banks Preparing for US Dollar Collapse?
China is spearheading this blatant de-dollarization push, dominating the physical gold market through massive central bank buying. Their ultimate goal? Ditching the greenback in favor of local BRICS currencies.
Fortis Inc. Releases 2024 Climate Report
Fortis: Top 10 Undervalued Large Cap Stocks on TSX (FTS)
Fortis Inc. (NYSE:FTS) Q4 2023 Earnings Call Transcript
Fortis Profit Rises in 4Q
Fortis Inc. Files 2023 Year-End Disclosure Documents
Fortis Inc. Announces Second Quarter Dividends – 2024
See More Headlines
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Company Calendar

Last Earnings
2/09/2024
Ex-Dividend for 3/1 Dividend
2/15/2024
Dividend Payable
3/01/2024
Today
3/29/2024
Next Earnings (Estimated)
5/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Utilities
Industry
Electric services
Sub-Industry
N/A
Employees
9,600
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$55.13
High Stock Price Target
$62.00
Low Stock Price Target
$37.00
Potential Upside/Downside
+39.6%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
4 Analysts

Profitability

Net Income
$1.17 billion
Pretax Margin
17.97%

Debt

Sales & Book Value

Annual Sales
$8.53 billion
Cash Flow
$5.02 per share
Book Value
$32.78 per share

Miscellaneous

Free Float
N/A
Market Cap
$19.38 billion
Optionable
Optionable
Beta
0.42
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Key Executives

  • Mr. David Gerard Hutchens (Age 57)
    President, CEO & Director
    Comp: $3.54M
  • Ms. Jocelyn H. Perry (Age 53)
    Executive VP & CFO
    Comp: $1.34M
  • Mr. Gary J. Smith (Age 62)
    Executive Vice President of Operations & Innovation
    Comp: $1.14M
  • Mr. James R. Reid
    Executive VP of Sustainability & Chief Legal Officer
  • Mr. Stuart I. Lochray
    Senior Vice President of Capital Markets & Business Development
  • Mr. Kevin D. Woodbury
    Vice President of Innovation & Technology
  • Mr. Ronald J. Hinsley
    Chief Information Officer & VP
  • Ms. Stephanie A. Amaimo
    Vice President of Investor Relations
  • Ms. Karen M. McCarthy BPR
    M.Ed, Vice President of Communications and Government Relations
  • Ms. Tanya Nicole Finlay
    Vice President of People & Culture

Should I Buy Fortis Stock? FTS Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Fortis Inc.:

  • Fortis Inc. has a stable financial performance with consistent earnings growth, as evidenced by its recent quarterly earnings report where it beat analyst estimates.
  • The company has a strong market capitalization of $19.35 billion, indicating its size and stability in the market.
  • Fortis Inc. has a low beta of 0.42, suggesting that the stock is less volatile compared to the overall market, providing a level of stability for investors.
  • With a current ratio of 0.67 and a quick ratio of 0.58, Fortis Inc. demonstrates good liquidity and ability to meet short-term obligations.
  • Fortis Inc.'s stock price has shown resilience, with a 52-week low of $36.30 and a 52-week high of $46.28, indicating potential for growth.

Cons

Investors should be bearish about investing in Fortis Inc. for these reasons:

  • Fortis Inc.'s stock performance has shown a slight decline of 0.5%, which may raise concerns about short-term price fluctuations.
  • The company's P/E ratio of 17.15 and P/E/G ratio of 2.92 may indicate that the stock is currently overvalued, potentially limiting immediate upside for investors.
  • Fortis Inc. has a debt-to-equity ratio of 1.27, which suggests a relatively high level of debt compared to equity, posing some financial risk.
  • The company's revenue of $2.12 billion for the quarter fell short of the consensus estimate of $2.39 billion, indicating a potential challenge in revenue generation.
  • While Fortis Inc. has a return on equity of 7.00%, which is a positive indicator, the net margin of 13.22% may be lower than expected for some investors.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Monday, March 25, 2024. Please send any questions or comments about these Fortis pros and cons to contact@marketbeat.com.

FTS Stock Analysis - Frequently Asked Questions

Should I buy or sell Fortis stock right now?

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last year. There are currently 1 sell rating, 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" FTS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FTS, but not buy additional shares or sell existing shares.
View FTS analyst ratings
or view top-rated stocks.

What is Fortis' stock price target for 2024?

4 Wall Street research analysts have issued 1 year price objectives for Fortis' shares. Their FTS share price targets range from $37.00 to $62.00. On average, they anticipate the company's share price to reach $55.13 in the next year. This suggests a possible upside of 39.6% from the stock's current price.
View analysts price targets for FTS
or view top-rated stocks among Wall Street analysts.

How have FTS shares performed in 2024?

Fortis' stock was trading at $41.13 on January 1st, 2024. Since then, FTS shares have decreased by 4.0% and is now trading at $39.50.
View the best growth stocks for 2024 here
.

Are investors shorting Fortis?

Fortis saw a drop in short interest in the month of February. As of February 29th, there was short interest totaling 10,350,000 shares, a drop of 22.4% from the February 14th total of 13,330,000 shares. Based on an average daily volume of 897,400 shares, the short-interest ratio is presently 11.5 days.
View Fortis' Short Interest
.

When is Fortis' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 1st 2024.
View our FTS earnings forecast
.

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) posted its earnings results on Friday, February, 9th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The utilities provider had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.39 billion. Fortis had a net margin of 13.22% and a trailing twelve-month return on equity of 7.00%. During the same period in the previous year, the firm posted $0.53 earnings per share.

How often does Fortis pay dividends? What is the dividend yield for Fortis?

Fortis declared a quarterly dividend on Monday, February 12th. Investors of record on Friday, May 17th will be given a dividend of $0.4382 per share on Saturday, June 1st. This represents a $1.75 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from the stock's previous quarterly dividend of $0.44.
Read our dividend analysis for FTS
.

Is Fortis a good dividend stock?

Fortis (NYSE:FTS) pays an annual dividend of $1.75 per share and currently has a dividend yield of 4.51%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 76.09%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, FTS will have a dividend payout ratio of 72.92% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for FTS.

What ETF holds Fortis' stock?

Cizzle Biotechnology holds 791 shares of FTS stock, representing 0.08% of its portfolio.

What other stocks do shareholders of Fortis own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Fortis investors own include Xtrackers California Municipal Bond ETF (CA), BlackRock (BLK), Endologix (ELGX), Chipotle Mexican Grill (CMG), Athabasca Oil (ATH), Micron Technology (MU), NIC (EGOV), Accenture (ACN), Workday (WDAY).

Who are Fortis' major shareholders?

Fortis' stock is owned by a number of institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (4.04%), Vanguard Group Inc. (4.04%), FIL Ltd (3.97%), TD Asset Management Inc (2.73%), Beutel Goodman & Co Ltd. (1.94%) and 1832 Asset Management L.P. (1.84%).

How do I buy shares of Fortis?

Shares of FTS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:FTS) was last updated on 3/29/2024 by MarketBeat.com Staff

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