FY2025 Earnings Estimate for Fortis Issued By Desjardins

Fortis Inc. (NYSE:FTS) – Research analysts at Desjardins issued their FY2025 earnings estimates for shares of Fortis in a research note issued to investors on Monday, May 5th. Desjardins analyst B. Stadler expects that the utilities provider will earn $2.44 per share for the year. Desjardins has a “Hold” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Desjardins also issued estimates for Fortis’ FY2026 earnings at $2.61 EPS, FY2027 earnings at $2.74 EPS, FY2028 earnings at $2.89 EPS and FY2029 earnings at $3.05 EPS.

Fortis (NYSE:FTS) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Fortis had a return on equity of 7.09% and a net margin of 14.12%. During the same quarter last year, the company posted $0.72 earnings per share.

Separately, Jefferies Financial Group began coverage on shares of Fortis in a research report on Thursday, February 13th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold”.

Fortis Trading Up 1.6 %

Shares of FTS stock opened at $49.82 on Wednesday. The company has a market capitalization of $24.99 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 3.94 and a beta of 0.50. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $46.29 and its two-hundred day moving average is $44.27. Fortis has a twelve month low of $38.15 and a twelve month high of $50.06.

Fortis Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be given a dividend of $0.4324 per share. This represents a $1.73 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, May 16th. Fortis’s payout ratio is 72.03%.

Institutional Trading of Fortis

A number of institutional investors have recently modified their holdings of FTS. Versant Capital Management Inc grew 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 purchasing an additional 256 shares during the period. JCIC Asset Management Inc. boosted its holdings in shares of Fortis by 5.5% in 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 during the last quarter. Code Waechter LLC boosted its holdings in shares of Fortis by 1.5% in 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 during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Fortis by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,515 shares of the utilities provider’s stock valued at $396,000 after buying an additional 277 shares during the period. Finally, Benjamin Edwards Inc. increased its holdings in shares of Fortis by 4.7% during the 4th quarter. Benjamin Edwards Inc. now owns 6,265 shares of the utilities provider’s stock worth $260,000 after buying an additional 282 shares during the last quarter. 57.77% of the stock is currently owned by hedge funds and other institutional investors.

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.