Equities Analysts Offer Predictions for Fortis Q1 Earnings

Fortis Inc. (NYSE:FTS) – Equities research analysts at Raymond James boosted their Q1 2025 earnings per share (EPS) estimates for Fortis in a report released on Monday, February 17th. Raymond James analyst T. Genzebu now expects that the utilities provider will post earnings per share of $0.66 for the quarter, up from their previous forecast of $0.64. Raymond James has a “Market Perform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Raymond James also issued estimates for Fortis’ Q2 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $2.34 EPS.

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

Separately, Jefferies Financial Group began coverage on Fortis in a report on Thursday, February 13th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Fortis Price Performance

Shares of FTS opened at $43.95 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32. Fortis has a 1 year low of $36.86 and a 1 year high of $46.06. The stock has a market cap of $21.94 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 4.05 and a beta of 0.50. The stock’s 50-day moving average price is $42.34 and its two-hundred day moving average price is $43.57.

Hedge Funds Weigh In On Fortis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Fortis by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 21,722,993 shares of the utilities provider’s stock worth $902,656,000 after purchasing an additional 364,391 shares during the period. TD Asset Management Inc. raised its position in shares of Fortis by 1.4% during the fourth quarter. TD Asset Management Inc. now owns 12,266,121 shares of the utilities provider’s stock worth $509,425,000 after purchasing an additional 173,226 shares during the period. Scotia Capital Inc. raised its position in shares of Fortis by 3.7% during the fourth quarter. Scotia Capital Inc. now owns 9,148,037 shares of the utilities provider’s stock worth $379,614,000 after purchasing an additional 329,767 shares during the period. Toronto Dominion Bank raised its position in shares of Fortis by 10.9% during the fourth quarter. Toronto Dominion Bank now owns 6,218,116 shares of the utilities provider’s stock worth $258,068,000 after purchasing an additional 612,395 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Fortis by 21.8% during the third quarter. National Bank of Canada FI now owns 5,190,336 shares of the utilities provider’s stock worth $235,839,000 after purchasing an additional 930,331 shares during the period. Institutional investors own 57.77% of the company’s stock.

Fortis Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be issued a dividend of $0.4324 per share. This represents a $1.73 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Friday, May 16th. Fortis’s dividend payout ratio (DPR) 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.