Brokers Set Expectations for Fortis’ Q3 Earnings (NYSE:FTS)

Fortis Inc. (NYSE:FTS) – Stock analysts at Raymond James decreased their Q3 2025 EPS estimates for shares of Fortis in a research report issued to clients and investors on Monday, February 17th. Raymond James analyst T. Genzebu now expects that the utilities provider will post earnings per share of $0.56 for the quarter, down from their previous forecast of $0.58. Raymond James has a “Market Perform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share.

Separately, Jefferies Financial Group assumed coverage on shares of Fortis in a research report on Thursday, February 13th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Fortis Price Performance

Shares of NYSE:FTS opened at $43.62 on Wednesday. The stock has a market cap of $21.78 billion, a PE ratio of 18.48, a PEG ratio of 4.05 and a beta of 0.50. The company’s fifty day moving average is $42.34 and its 200 day moving average is $43.56. Fortis has a 52 week low of $36.86 and a 52 week high of $46.06. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 1.32.

Fortis (NYSE:FTS) last posted its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fortis had a net margin of 14.12% and a return on equity of 7.19%. During the same quarter last year, the company posted $0.72 EPS.

Institutional Investors Weigh In On Fortis

Several hedge funds have recently bought and sold shares of the business. Creative Planning raised its holdings in Fortis by 21.1% in the third quarter. Creative Planning now owns 52,266 shares of the utilities provider’s stock worth $2,375,000 after buying an additional 9,108 shares during the last quarter. Signaturefd LLC increased its holdings in Fortis by 14.4% during the third quarter. Signaturefd LLC now owns 26,094 shares of the utilities provider’s stock valued at $1,186,000 after buying an additional 3,277 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Fortis by 42.6% during the third quarter. Assenagon Asset Management S.A. now owns 19,156 shares of the utilities provider’s stock valued at $871,000 after buying an additional 5,723 shares during the last quarter. Cromwell Holdings LLC boosted its position in shares of Fortis by 52.2% in the third quarter. Cromwell Holdings LLC now owns 1,837 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 630 shares during the period. Finally, Forsta AP Fonden lifted its position in Fortis by 15.2% during the third quarter. Forsta AP Fonden now owns 151,200 shares of the utilities provider’s stock valued at $6,878,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 57.77% of the company’s stock.

Fortis Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be paid a dividend of $0.4324 per share. This represents a $1.73 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, May 16th. Fortis’s payout ratio is currently 80.08%.

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.