Desjardins Comments on Fortis' FY2025 Earnings (TSE:FTS)

Fortis Inc. (TSE:FTS - Free Report) - Investment analysts at Desjardins issued their FY2025 earnings per share estimates for Fortis in a report released on Monday, May 5th. Desjardins analyst B. Stadler expects that the company will post earnings of $3.39 per share for the year. The consensus estimate for Fortis' current full-year earnings is $3.34 per share. Desjardins also issued estimates for Fortis' FY2026 earnings at $3.62 EPS, FY2027 earnings at $3.80 EPS, FY2028 earnings at $4.01 EPS and FY2029 earnings at $4.23 EPS.

FTS has been the topic of several other reports. UBS Group lifted their price objective on shares of Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. CIBC boosted their price target on shares of Fortis from C$68.00 to C$69.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Raymond James lowered their price target on shares of Fortis from C$69.00 to C$62.50 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Jefferies Financial Group boosted their price target on shares of Fortis from C$67.00 to C$70.00 in a report on Monday, April 14th. Finally, Scotiabank lifted their price objective on shares of Fortis from C$66.00 to C$70.00 and gave the company a "sector perform" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, Fortis presently has an average rating of "Hold" and a consensus target price of C$64.25.

Fortis Trading Down 2.7%

TSE FTS traded down C$1.81 on Wednesday, hitting C$65.10. 406,579 shares of the stock were exchanged, compared to its average volume of 1,754,134. Fortis has a 52-week low of C$52.19 and a 52-week high of C$69.24. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The company has a market capitalization of C$32.21 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 3.01 and a beta of 0.23. The company's 50-day moving average price is C$65.48 and its two-hundred day moving average price is C$62.80.

Fortis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Sunday, June 1st will be given a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Friday, May 16th. Fortis's dividend payout ratio (DPR) is currently 73.02%.

About Fortis

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.