FY2026 Earnings Estimate for Fortis Issued By Scotiabank

Fortis Inc. (NYSE:FTS) – Investment analysts at Scotiabank issued their FY2026 earnings per share (EPS) estimates for shares of Fortis in a report released on Wednesday, January 8th. Scotiabank analyst R. Hope forecasts that the utilities provider will earn $2.44 per share for the year. The consensus estimate for Fortis’ current full-year earnings is $2.32 per share.

Fortis (NYSE:FTS) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.59 by $0.26. Fortis had a return on equity of 7.01% and a net margin of 14.06%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share.

Other research analysts have also recently issued reports about the stock. Bank of America began coverage on shares of Fortis in a report on Friday, September 20th. They set an “underperform” rating for the company. Raymond James downgraded Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th.

Fortis Stock Down 2.9 %

FTS stock opened at $40.79 on Friday. The stock has a market capitalization of $20.29 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 3.87 and a beta of 0.50. The company has a fifty day moving average of $43.16 and a 200-day moving average of $43.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.63 and a current ratio of 0.74. Fortis has a one year low of $36.86 and a one year high of $46.06.

Institutional Trading of Fortis

A number of institutional investors have recently added to or reduced their stakes in FTS. Toronto Dominion Bank raised its stake in shares of Fortis by 26.9% during the 2nd quarter. Toronto Dominion Bank now owns 9,071,484 shares of the utilities provider’s stock worth $352,336,000 after buying an additional 1,920,728 shares during the last quarter. National Bank of Canada FI raised its position in Fortis by 21.8% during the third quarter. National Bank of Canada FI now owns 5,190,336 shares of the utilities provider’s stock worth $235,839,000 after acquiring an additional 930,331 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Fortis by 31.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,142,695 shares of the utilities provider’s stock valued at $83,259,000 after purchasing an additional 512,103 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Fortis by 15.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,747,036 shares of the utilities provider’s stock valued at $170,230,000 after purchasing an additional 507,068 shares during the last quarter. Finally, Point72 Europe London LLP increased its stake in shares of Fortis by 413.6% during the 3rd quarter. Point72 Europe London LLP now owns 395,474 shares of the utilities provider’s stock worth $17,973,000 after purchasing an additional 318,474 shares in the last quarter. Hedge funds and other institutional investors own 57.77% of the company’s stock.

Fortis Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be paid a $0.4382 dividend. This represents a $1.75 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Tuesday, February 18th. Fortis’s dividend payout ratio (DPR) is 76.05%.

About Fortis

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.