What is Desjardins' Estimate for Fortis FY2025 Earnings?

Fortis Inc. (NYSE:FTS - Free Report) - Equities research analysts at Desjardins issued their FY2025 earnings per share (EPS) estimates for Fortis in a research note issued on Monday, May 5th. Desjardins analyst B. Stadler anticipates that the utilities provider will post earnings of $2.44 per share for the year. Desjardins currently 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' FY2026 earnings at $2.61 EPS, FY2027 earnings at $2.74 EPS, FY2028 earnings at $2.89 EPS and FY2029 earnings at $3.05 EPS.

Fortis (NYSE:FTS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, beating 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 firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the firm earned $0.93 EPS.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Fortis in a research report on Thursday, February 13th. They set a "hold" rating for the company. Royal Bank of Canada raised 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $72.00.

Fortis Stock Performance

Shares of FTS stock traded down $1.61 during midday trading on Wednesday, hitting $46.43. The company had a trading volume of 267,604 shares, compared to its average volume of 621,920. The stock has a market cap of $23.29 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.94 and a beta of 0.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.63. The company's 50 day simple moving average is $46.45 and its 200 day simple moving average is $44.31. Fortis has a 52-week low of $38.15 and a 52-week high of $50.06.

Fortis Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be paid a dividend of $0.4324 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, May 16th. Fortis's dividend payout ratio (DPR) is presently 71.73%.

Hedge Funds Weigh In On Fortis

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of Fortis by 724.3% in the fourth quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 507 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Fortis in the 1st quarter valued at approximately $28,000. Golden State Wealth Management LLC purchased a new position in Fortis during the fourth quarter worth $38,000. Versant Capital Management Inc raised its holdings in shares of Fortis by 34.1% in the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider's stock worth $42,000 after acquiring an additional 256 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position 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 valued at $51,000 after acquiring an additional 820 shares in the last quarter. 57.77% of the stock is currently owned by hedge funds and other institutional investors.

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.