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

Fortis Inc. (NYSE:FTS) – Stock analysts at Scotiabank issued their FY2026 earnings per share estimates for Fortis in a report issued on Wednesday, January 8th. Scotiabank analyst R. Hope expects 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 announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.85 earnings per share for the quarter, beating 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 analyst estimates of $2.01 billion. During the same period in the prior year, the company earned $0.63 earnings per share.

A number of other equities analysts have also commented on the company. Bank of America initiated coverage on Fortis in a report on Friday, September 20th. They issued an “underperform” rating for the company. Raymond James lowered Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th.

Fortis Price Performance

Fortis stock opened at $41.95 on Friday. Fortis has a one year low of $36.86 and a one year high of $46.06. The business has a fifty day moving average price of $43.20 and a 200-day moving average price of $42.99. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.74 and a quick ratio of 0.63. The firm has a market capitalization of $20.87 billion, a P/E ratio of 17.63, a PEG ratio of 3.87 and a beta of 0.50.

Fortis Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be given a $0.4382 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 4.18%. Fortis’s dividend payout ratio (DPR) is presently 76.05%.

Institutional Investors Weigh In On Fortis

A number of institutional investors and hedge funds have recently made changes to their positions in FTS. BNP Paribas Financial Markets purchased a new stake in Fortis during the third quarter valued at about $44,000. Versant Capital Management Inc raised its position in Fortis by 34.1% during the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 256 shares in the last quarter. Cromwell Holdings LLC raised its position in Fortis by 52.2% during the third quarter. Cromwell Holdings LLC now owns 1,837 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 630 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Fortis during the third quarter valued at about $149,000. Finally, CHICAGO TRUST Co NA purchased a new stake in Fortis during the third quarter valued at about $209,000. Hedge funds and other institutional investors own 57.77% of the company’s stock.

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.