FY2025 Earnings Estimate for Fortis Issued By Desjardins

Fortis Inc. (TSE:FTS) – Stock analysts at Desjardins boosted their FY2025 earnings per share estimates for Fortis in a research report issued to clients and investors on Tuesday, August 5th. Desjardins analyst B. Stadler now anticipates that the company will earn $3.47 per share for the year, up from their previous estimate of $3.41. Desjardins has a “Moderate Buy” rating and a $76.00 price target on the stock. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share. Desjardins also issued estimates for Fortis’ FY2026 earnings at $3.65 EPS and FY2027 earnings at $3.92 EPS.

Other research analysts have also issued reports about the stock. CIBC raised their price target on shares of Fortis from C$68.00 to C$69.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Scotiabank lifted their target price on shares of Fortis from C$66.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 8th. Raymond James Financial upped their target price on Fortis from C$69.00 to C$72.00 and gave the company an “outperform” rating in a report on Tuesday. Cibc World Mkts upgraded Fortis from a “hold” rating to a “strong-buy” rating in a report on Monday, July 21st. Finally, Royal Bank Of Canada upped their price objective on Fortis from C$69.00 to C$72.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$68.82.

Fortis Price Performance

FTS opened at C$69.30 on Wednesday. Fortis has a 1 year low of C$57.98 and a 1 year high of C$70.96. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The company has a market capitalization of C$34.28 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 3.01 and a beta of 0.23. The firm’s fifty day moving average price is C$65.60 and its two-hundred day moving average price is C$64.87.

Fortis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Monday, September 1st will be given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, August 19th. Fortis’s dividend payout ratio (DPR) is currently 73.02%.

About Fortis

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.