What is Scotiabank’s Estimate for Fortis FY2026 Earnings?

Fortis (NYSE:FTS) – Equities research analysts at Scotiabank increased their FY2026 EPS estimates for shares of Fortis in a research note issued on Thursday, February 19th. Scotiabank analyst R. Hope now forecasts that the utilities provider will post earnings per share of $2.65 for the year, up from their prior forecast of $2.62. Scotiabank currently 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’ FY2027 earnings at $2.81 EPS.

Fortis (NYSE:FTS) last posted its earnings results on Thursday, February 12th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Fortis had a net margin of 14.24% and a return on equity of 7.24%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the business posted $0.83 EPS.

A number of other analysts also recently commented on the stock. National Bank Financial restated a “sector perform” rating on shares of Fortis in a research report on Wednesday, November 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Fortis in a report on Thursday, January 22nd. Wall Street Zen downgraded Fortis from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Fortis in a research note on Friday, February 13th. Finally, TD Securities reissued a “buy” rating on shares of Fortis in a research note on Tuesday. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Fortis has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Fortis Stock Performance

FTS opened at $56.28 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.28. Fortis has a twelve month low of $43.19 and a twelve month high of $57.25. The business’s 50 day moving average is $53.03 and its 200-day moving average is $51.45. The stock has a market cap of $28.55 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 4.30 and a beta of 0.50.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.56 dividend on an annualized basis and a yield of 4.5%. Fortis’s dividend payout ratio (DPR) is currently 76.64%.

Institutional Trading of Fortis

Hedge funds have recently bought and sold shares of the company. West Family Investments Inc. purchased a new stake in shares of Fortis in the second quarter valued at $249,000. Aviso Financial Inc. grew its holdings in shares of Fortis by 7.0% during the second quarter. Aviso Financial Inc. now owns 101,518 shares of the utilities provider’s stock valued at $4,846,000 after buying an additional 6,682 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Fortis by 42.4% during the second quarter. Hillsdale Investment Management Inc. now owns 794,320 shares of the utilities provider’s stock valued at $37,955,000 after buying an additional 236,347 shares during the period. XTX Topco Ltd raised its position in Fortis by 172.5% during the second quarter. XTX Topco Ltd now owns 32,997 shares of the utilities provider’s stock valued at $1,575,000 after buying an additional 20,889 shares during the period. Finally, Legal & General Group Plc lifted its stake in Fortis by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 6,224,022 shares of the utilities provider’s stock worth $296,614,000 after acquiring an additional 345,633 shares in the last quarter. 57.77% of the stock is owned by hedge funds and other institutional investors.

About Fortis

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.