What is Scotiabank's Forecast for Fortis FY2026 Earnings?

Key Points

• Scotiabank raised its FY2026 EPS forecast for Fortis to $2.66 (from $2.65), versus the consensus of $2.63, and projects FY2027 EPS of $2.83 while keeping a "Sector Perform" rating.
• Fortis announced a quarterly dividend of $0.64 (annualized $2.56) with an ex-dividend/record date of May 15 and payment on June 1, implying a yield of about 4.5% and a payout ratio of 77.05%.
• Analyst coverage is mixed: six analysts rate Fortis a Buy and five a Hold, giving a MarketBeat average rating of "Moderate Buy" and an average target price of $67, while Barclays initiated coverage with an "Overweight" rating and a $62 target.

Fortis (NYSE:FTS - Free Report) - Stock analysts at Scotiabank raised their FY2026 earnings estimates for Fortis in a report released on Friday, May 1st. Scotiabank analyst R. Hope now forecasts that the utilities provider will earn $2.66 per share for the year, up from their prior estimate of $2.65. Scotiabank has a "Sector Perform" rating on the stock. The consensus estimate for Fortis' current full-year earnings is $2.63 per share. Scotiabank also issued estimates for Fortis' FY2027 earnings at $2.83 EPS.

Fortis (NYSE:FTS - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The utilities provider reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. The company had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.54 billion. Fortis had a net margin of 14.24% and a return on equity of 7.24%. During the same period in the prior year, the business posted $0.83 earnings per share.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada restated a "sector perform" rating on shares of Fortis in a research report on Friday, February 13th. BMO Capital Markets restated a "market perform" rating on shares of Fortis in a research report on Friday, February 13th. Weiss Ratings restated a "buy (b)" rating on shares of Fortis in a research report on Tuesday, April 21st. TD Securities restated a "buy" rating on shares of Fortis in a research report on Tuesday, February 17th. Finally, Barclays assumed coverage on shares of Fortis in a report on Tuesday, April 28th. They set an "overweight" rating and a $62.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.00.

Fortis Stock Performance

NYSE:FTS opened at $57.24 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.42 and a current ratio of 0.51. The company has a fifty day moving average of $56.78 and a two-hundred day moving average of $53.82. The stock has a market capitalization of $29.14 billion, a PE ratio of 23.46 and a beta of 0.45. Fortis has a fifty-two week low of $45.87 and a fifty-two week high of $58.78.

Institutional Investors Weigh In On Fortis

A number of large investors have recently modified their holdings of FTS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Fortis during the fourth quarter worth $34,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Fortis by 157.4% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 700 shares of the utilities provider's stock worth $36,000 after buying an additional 428 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Fortis by 123.9% in the third quarter. Larson Financial Group LLC now owns 739 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 409 shares during the period. LOM Asset Management Ltd purchased a new stake in shares of Fortis in the fourth quarter valued at about $43,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Fortis by 2,119.1% in the second quarter. Smartleaf Asset Management LLC now owns 1,043 shares of the utilities provider's stock valued at $49,000 after purchasing an additional 996 shares during the period. Hedge funds and other institutional investors own 57.77% of the company's stock.

Fortis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.5%. Fortis's dividend payout ratio is presently 77.05%.

About Fortis

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John's, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company's core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.

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