Fortis (TSE:FTS) Sets New 12-Month High - Here's What Happened

Key Points

• Fortis shares reached a new 52-week high of C$84.24 and last traded at C$83.94, up from the prior close of C$82.95.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating from ten analysts, although the average price target of C$79.23 is below the current share price.
• Fortis reported quarterly EPS of C$0.92 on C$3.12 billion in revenue and maintains a quarterly dividend of $0.64 per share, equivalent to a 3.0% yield and a 74.56% payout ratio.

Fortis Inc. (TSE:FTS - Get Free Report) shares reached a new 52-week high on Tuesday. The stock traded as high as C$84.24 and last traded at C$83.94, with a volume of 823,006 shares traded. The stock had previously closed at C$82.95.

Wall Street Analyst Weigh In

Several brokerages have commented on FTS. Desjardins set a C$85.00 target price on shares of Fortis and gave the stock a "buy" rating in a report on Tuesday, October 27th. Canadian Imperial Bank of Commerce lowered their price target on Fortis from C$82.00 to C$78.00 in a report on Tuesday, September 22nd. Finally, Barclays dropped their price target on Fortis from C$82.00 to C$76.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 30th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$79.23.

Fortis Stock Performance

The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 143.60. The firm has a 50-day simple moving average of C$76.94 and a two-hundred day simple moving average of C$77.64. The company has a market capitalization of C$42.98 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 3.01 and a beta of 0.34.

Fortis (TSE:FTS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.92 earnings per share (EPS) for the quarter. The business had revenue of C$3.12 billion during the quarter. Fortis had a return on equity of 7.43% and a net margin of 14.72%. As a group, sell-side analysts forecast that Fortis Inc. will post 3.34 earnings per share for the current fiscal year.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, August 19th. Fortis's dividend payout ratio (DPR) is 74.56%.

About Fortis

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation's 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.

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