Scotiabank Comments on Fortis’ FY2026 Earnings (NYSE:FTS)

Fortis Inc. (NYSE:FTS) – Equities research analysts at Scotiabank issued their FY2026 earnings per share estimates for shares of Fortis in a report released on Wednesday, January 8th. Scotiabank analyst R. Hope anticipates 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 posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business earned $0.63 EPS.

Several other analysts also recently commented on the company. Bank of America initiated coverage on Fortis in a research note on Friday, September 20th. They issued 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 Up 0.4 %

FTS stock opened at $41.95 on Friday. The stock’s 50 day simple moving average is $43.20 and its 200 day simple moving average is $42.99. Fortis has a fifty-two week low of $36.86 and a fifty-two week high of $46.06. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.63 and a current ratio of 0.74. The company has a market cap of $20.87 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 3.87 and a beta of 0.50.

Fortis Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be issued a $0.4382 dividend. This represents a $1.75 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Tuesday, February 18th. Fortis’s dividend payout ratio is presently 76.05%.

Hedge Funds Weigh In On Fortis

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Fortis by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 489,343 shares of the utilities provider’s stock valued at $19,006,000 after acquiring an additional 21,059 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Fortis by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,352,485 shares of the utilities provider’s stock valued at $61,516,000 after acquiring an additional 73,682 shares in the last quarter. Intact Investment Management Inc. grew its holdings in shares of Fortis by 163.8% in the third quarter. Intact Investment Management Inc. now owns 227,700 shares of the utilities provider’s stock valued at $10,347,000 after acquiring an additional 141,400 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Fortis by 11.3% in the third quarter. Citigroup Inc. now owns 153,325 shares of the utilities provider’s stock valued at $6,974,000 after acquiring an additional 15,605 shares in the last quarter. Finally, Code Waechter LLC bought a new position in shares of Fortis in the third quarter valued at approximately $838,000. 57.77% of the stock is owned by institutional investors.

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.