What is Scotiabank’s Forecast for Fortis FY2025 Earnings?

Fortis (NYSE:FTS) – Scotiabank lifted their FY2025 earnings per share (EPS) estimates for shares of Fortis in a report issued on Friday, January 23rd. Scotiabank analyst R. Hope now expects that the utilities provider will post earnings per share of $2.52 for the year, up from their previous estimate of $2.50. Scotiabank has a “Sector Perform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Scotiabank also issued estimates for Fortis’ FY2026 earnings at $2.62 EPS and FY2027 earnings at $2.77 EPS.

Fortis (NYSE:FTS) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). Fortis had a return on equity of 7.05% and a net margin of 14.18%.The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.22 billion.

Several other equities analysts have also recently issued reports on FTS. BMO Capital Markets restated a “market perform” rating on shares of Fortis in a research note on Wednesday, November 5th. CIBC reissued an “outperform” rating on shares of Fortis in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Fortis in a report on Thursday. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Fortis in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.00.

Fortis Price Performance

NYSE FTS opened at $52.68 on Monday. Fortis has a one year low of $41.24 and a one year high of $52.89. The stock has a 50-day moving average of $51.68 and a 200 day moving average of $50.58. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.54 and a current ratio of 0.66. The company has a market capitalization of $26.73 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 4.78 and a beta of 0.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Trust Co. of Toledo NA OH purchased a new stake in Fortis in the 2nd quarter worth approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Fortis by 157.4% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 700 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 428 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Fortis by 123.9% in the third quarter. Larson Financial Group LLC now owns 739 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 409 shares in the last quarter. LOM Asset Management Ltd bought a new stake in shares of Fortis during the 4th quarter valued at $43,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Fortis by 2,119.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,043 shares of the utilities provider’s stock valued at $49,000 after buying an additional 996 shares in the last quarter. 57.77% of the stock is owned by hedge funds and other institutional investors.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a $0.64 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.56 dividend on an annualized basis and a yield of 4.9%. Fortis’s dividend payout ratio is presently 75.83%.

Fortis Company Profile

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.