Desjardins Has Pessimistic Outlook of Fortis FY2026 Earnings

Fortis Inc. (TSE:FTS) – Stock analysts at Desjardins dropped their FY2026 EPS estimates for shares of Fortis in a note issued to investors on Tuesday, November 4th. Desjardins analyst B. Stadler now expects that the company will post earnings of $3.61 per share for the year, down from their previous estimate of $3.65. Desjardins currently has a “Buy” rating and a $79.00 price target on the stock. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share. Desjardins also issued estimates for Fortis’ FY2027 earnings at $3.88 EPS.

Other analysts have also issued reports about the company. Jefferies Financial Group boosted their price objective on Fortis from C$70.00 to C$72.00 in a report on Monday, September 15th. Raymond James Financial increased their price objective on shares of Fortis from C$72.00 to C$75.50 and gave the stock an “outperform” rating in a report on Friday, October 24th. Royal Bank Of Canada lifted their price target on Fortis from C$72.00 to C$79.00 in a research report on Wednesday. BMO Capital Markets boosted their price target on Fortis from C$72.00 to C$74.00 in a research note on Wednesday. Finally, Cibc World Mkts raised Fortis from a “hold” rating to a “strong-buy” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$73.65.

Fortis Stock Up 0.6%

TSE FTS traded up C$0.43 during mid-day trading on Friday, reaching C$72.55. 244,533 shares of the company’s stock traded hands, compared to its average volume of 1,547,363. The company has a market cap of C$36.54 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 3.01 and a beta of 0.29. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. Fortis has a 1-year low of C$57.98 and a 1-year high of C$73.43. The company has a fifty day simple moving average of C$69.90 and a 200-day simple moving average of C$67.78.

Fortis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, December 1st will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, November 17th. This is an increase from Fortis’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.5%. Fortis’s payout ratio is 71.62%.

Fortis Company Profile

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.