Scotiabank Weighs in on Fortis’ FY2025 Earnings (TSE:FTS)

Fortis Inc. (TSE:FTS) – Research analysts at Scotiabank increased their FY2025 earnings per share (EPS) estimates for Fortis in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will post earnings of $3.35 per share for the year, up from their previous forecast of $3.34. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Several other research analysts have also recently weighed in on FTS. Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price target on Fortis from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. Bank of America set a C$60.00 price objective on Fortis and gave the stock an “underperform” rating in a report on Friday, September 20th. Finally, CIBC increased their target price on Fortis from C$63.00 to C$64.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$60.89.

Fortis Price Performance

FTS opened at C$58.92 on Monday. The company’s 50-day simple moving average is C$61.07 and its two-hundred day simple moving average is C$59.25. The company has a debt-to-equity ratio of 128.59, a quick ratio of 0.36 and a current ratio of 0.69. The stock has a market capitalization of C$29.18 billion, a P/E ratio of 18.47, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a 52-week low of C$51.02 and a 52-week high of C$63.75.

Fortis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st were given a $0.83 dividend. This is a boost from Fortis’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, November 18th. This represents a $3.32 dividend on an annualized basis and a yield of 5.63%. Fortis’s dividend payout ratio is presently 77.12%.

Insider Transactions at Fortis

In other news, Senior Officer Keri Linda Glitch acquired 450 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average cost of C$61.41 per share, for a total transaction of C$27,634.59. Following the transaction, the insider now directly owns 450 shares of the company’s stock, valued at approximately C$27,634.59. This trade represents a ∞ increase in their ownership of the stock. Also, Director Gary Joseph Smith sold 21,716 shares of Fortis stock in a transaction on Friday, November 8th. The shares were sold at an average price of C$61.45, for a total transaction of C$1,334,543.75. Corporate insiders own 0.04% of the company’s stock.

Fortis Company Profile

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.