Scotiabank Weighs in on Fortis’ FY2026 Earnings (TSE:FTS)

Fortis Inc. (TSE:FTS) – Scotiabank upped their FY2026 EPS estimates for Fortis in a note issued to investors on Thursday, February 19th. Scotiabank analyst R. Hope now anticipates that the company will post earnings of $3.62 per share for the year, up from their previous estimate of $3.61. Scotiabank has a “Sector Perform” rating and a $80.00 price objective on the stock. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share. Scotiabank also issued estimates for Fortis’ FY2027 earnings at $3.84 EPS.

Other equities research analysts have also issued research reports about the company. Canadian Imperial Bank of Commerce boosted their price target on Fortis from C$75.00 to C$76.00 in a research note on Wednesday, December 17th. Desjardins upped their price target on shares of Fortis from C$79.00 to C$81.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Jefferies Financial Group lowered their price objective on shares of Fortis from C$72.00 to C$70.00 in a research note on Wednesday, January 28th. Raymond James Financial upped their target price on Fortis from C$75.50 to C$78.50 and gave the company an “outperform” rating in a research report on Friday, February 13th. Finally, National Bank Financial lifted their price target on Fortis from C$68.00 to C$72.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$75.65.

Fortis Trading Down 0.5%

Shares of TSE:FTS opened at C$76.99 on Friday. The business’s 50-day moving average is C$72.65 and its 200 day moving average is C$71.21. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. Fortis has a 1 year low of C$61.32 and a 1 year high of C$78.07. The firm has a market capitalization of C$39.06 billion, a P/E ratio of 22.64, a P/E/G ratio of 3.01 and a beta of 0.35.

Fortis (TSE:FTS) last issued its quarterly earnings data on Thursday, February 12th. The company reported C$0.90 EPS for the quarter. The firm had revenue of C$3.08 billion during the quarter. Fortis had a return on equity of 7.48% and a net margin of 14.53%.

Fortis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Sunday, March 1st will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, February 17th. Fortis’s dividend payout ratio is currently 73.09%.

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. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.