National Bank Financial Raises Earnings Estimates for Fortis

Key Points

• National Bank Financial has increased Fortis Inc.'s FY2025 earnings per share (EPS) forecast to $3.41, up from $3.40, while the consensus estimate is $3.34.
• Multiple analysts have upgraded Fortis, with Desjardins raising their price target to C$76.00 and Cibc World Markets moving their rating to "strong buy," indicating growing confidence in the company's performance.
• Fortis announced a quarterly dividend of $0.615 per share, reflecting an annualized dividend of $2.46 and a yield of 3.5%, with a payout ratio of 73.02%.

Fortis Inc. (TSE:FTS - Free Report) - Investment analysts at National Bank Financial boosted their FY2025 EPS estimates for shares of Fortis in a research note issued to investors on Monday, August 4th. National Bank Financial analyst P. Kenny now expects that the company will earn $3.41 per share for the year, up from their previous estimate of $3.40. The consensus estimate for Fortis' current full-year earnings is $3.34 per share. National Bank Financial also issued estimates for Fortis' FY2026 earnings at $3.56 EPS.

Several other equities research analysts have also issued reports on FTS. Desjardins raised shares of Fortis from a "hold" rating to a "buy" rating and increased their target price for the stock from C$71.00 to C$76.00 in a report on Tuesday, August 5th. TD Securities increased their target price on shares of Fortis from C$74.00 to C$77.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. CIBC increased their target price on shares of Fortis from C$68.00 to C$69.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Cibc World Mkts upgraded Fortis from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 21st. Finally, National Bankshares upped their price target on Fortis from C$65.00 to C$67.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$68.82.

Fortis Stock Performance

Fortis stock traded up C$0.07 during midday trading on Wednesday, hitting C$69.91. The stock had a trading volume of 1,124,435 shares, compared to its average volume of 1,647,581. The firm's fifty day moving average is C$65.73 and its two-hundred day moving average is C$65.02. The company has a market capitalization of C$34.59 billion, a PE ratio of 20.75, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a 52-week low of C$57.98 and a 52-week high of C$70.96. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Monday, September 1st will be given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, August 19th. Fortis's dividend payout ratio is currently 73.02%.

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.