Fortis FY2025 EPS Estimate Raised by National Bank Financial

Fortis Inc. (TSE:FTS - Free Report) - Equities researchers at National Bank Financial increased their FY2025 earnings estimates for Fortis in a research report issued on Tuesday, April 22nd. National Bank Financial analyst P. Kenny now expects that the company will earn $3.35 per share for the year, up from their previous estimate of $3.33. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

FTS has been the topic of several other research reports. UBS Group upped their price objective on Fortis from C$58.00 to C$63.00 in a research note on Friday, March 21st. Royal Bank of Canada boosted their price objective on Fortis from C$65.00 to C$69.00 in a report on Tuesday, February 18th. Raymond James lowered their target price on Fortis from C$69.00 to C$62.50 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. CIBC boosted their price target on Fortis from C$68.00 to C$69.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, Jefferies Financial Group boosted their target price on Fortis from C$67.00 to C$70.00 in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, Fortis presently has an average rating of "Hold" and an average price target of C$63.14.

Fortis Stock Up 0.5 %

Shares of FTS traded up C$0.33 during midday trading on Friday, reaching C$67.87. 271,849 shares of the company were exchanged, compared to its average volume of 1,772,367. 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 has a 1-year low of C$52.19 and a 1-year high of C$68.07. The stock has a 50-day moving average price of C$64.77 and a 200-day moving average price of C$62.39. The company has a market cap of C$33.58 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 3.01 and a beta of 0.23.

Fortis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be issued a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 3.62%. Fortis's dividend payout ratio (DPR) is presently 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.