Research Analysts Issue Forecasts for Fortis Q1 Earnings

Fortis Inc. (NYSE:FTS - Free Report) - Investment analysts at Desjardins issued their Q1 2025 earnings estimates for Fortis in a report issued on Monday, May 5th. Desjardins analyst B. Stadler forecasts that the utilities provider will post earnings of $0.69 per share for the quarter. Desjardins has a "Hold" rating on the stock. The consensus estimate for Fortis' current full-year earnings is $2.35 per share. Desjardins also issued estimates for Fortis' Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.62 EPS and Q4 2025 earnings at $0.63 EPS.

FTS has been the topic of several other research reports. Jefferies Financial Group began coverage on shares of Fortis in a research report on Thursday, February 13th. They issued a "hold" rating on the stock. Royal Bank of Canada boosted their price objective on shares of Fortis from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $72.00.

Fortis Price Performance

FTS traded down $1.32 during trading hours on Thursday, hitting $46.73. The company's stock had a trading volume of 635,759 shares, compared to its average volume of 623,600. The business's 50-day moving average price is $46.45 and its 200-day moving average price is $44.31. Fortis has a 12 month low of $38.15 and a 12 month high of $50.06. The stock has a market cap of $23.44 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.94 and a beta of 0.50. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30.

Fortis (NYSE:FTS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Fortis had a net margin of 14.12% and a return on equity of 7.09%. The company had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $3.42 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share.

Fortis Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be given a dividend of $0.4324 per share. This represents a $1.73 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, May 16th. Fortis's dividend payout ratio (DPR) is 71.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FTS. Blue Trust Inc. grew its holdings in shares of Fortis by 724.3% in the fourth quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock worth $26,000 after purchasing an additional 507 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Fortis in the first quarter worth about $28,000. Golden State Wealth Management LLC bought a new position in shares of Fortis in the fourth quarter worth about $38,000. Farther Finance Advisors LLC grew its holdings in shares of Fortis by 286.7% in the first quarter. Farther Finance Advisors LLC now owns 1,106 shares of the utilities provider's stock worth $51,000 after purchasing an additional 820 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Fortis by 111.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,226 shares of the utilities provider's stock worth $56,000 after purchasing an additional 647 shares during the last quarter. Institutional investors own 57.77% of the company's stock.

Fortis Company Profile

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.