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Prologis Stock Leading U.S. Logistics Boom
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Abbott Laboratories Outlook is Healthy: Buy the Dip
Closing prices for crude oil, gold and other commodities
Stock market today: World shares are mixed after a tech-led retreat on Wall Street
Prologis Stock Leading U.S. Logistics Boom
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Abbott Laboratories Outlook is Healthy: Buy the Dip
Closing prices for crude oil, gold and other commodities
Stock market today: World shares are mixed after a tech-led retreat on Wall Street
Prologis Stock Leading U.S. Logistics Boom
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Abbott Laboratories Outlook is Healthy: Buy the Dip
Closing prices for crude oil, gold and other commodities
Stock market today: World shares are mixed after a tech-led retreat on Wall Street
Prologis Stock Leading U.S. Logistics Boom
NYSE:FTS

Fortis (FTS) Stock Price, News & Analysis

$37.65
+0.51 (+1.37%)
(As of 04/17/2024 ET)
Today's Range
$37.06
$37.71
50-Day Range
$37.14
$40.27
52-Week Range
$36.30
$46.28
Volume
1.21 million shs
Average Volume
583,799 shs
Market Capitalization
$18.56 billion
P/E Ratio
16.37
Dividend Yield
4.65%
Price Target
$55.13

Fortis MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
46.4% Upside
$55.13 Price Target
Short Interest
Bearish
1.79% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-3.20
Upright™ Environmental Score
News Sentiment
0.60mentions of Fortis in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
0.42%
From $2.39 to $2.40 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.95 out of 5 stars

Utilities Sector

36th out of 98 stocks

Electric Services Industry

16th out of 38 stocks

FTS stock logo

About Fortis Stock (NYSE:FTS)

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. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 592,000 customers in southern and central Alberta; owns four hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW. Additionally, it provides integrated electric utility service to approximately 69,000 customers in Ontario; approximately 275,000 customers in Newfoundland and Labrador; approximately 34,000 customers on Grand Cayman, Cayman Islands; and approximately 17,000 customers on certain islands in Turks and Caicos. It also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 90,500 circuit Kilometers (km) of distribution lines; and approximately 51,600 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

FTS Stock Price History

FTS Stock News Headlines

Fortis Inc. (NYSE:FTS) Short Interest Update
Fortis (NYSE:FTS) Downgraded to Sell at StockNews.com
Biden to Launch “FedNOW” [Move Your Money Now]
Earlier this year President Biden signed the death warrant for America… Executive Order 14067 will essentially cancel your money. You see Biden and the Fed have teamed up to create a controllable, traceable, programmable digital currency to replace the dollar...
Biden to Launch “FedNOW” [Move Your Money Now]
Earlier this year President Biden signed the death warrant for America… Executive Order 14067 will essentially cancel your money. You see Biden and the Fed have teamed up to create a controllable, traceable, programmable digital currency to replace the dollar...
FTS: What does Argus have to say about FTS?
Better Stock: Fortis vs Enbridge
Fortis' (TSE:FTS) Returns Have Hit A Wall
Fortis Inc. Releases 2024 Climate Report
See More Headlines
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Company Calendar

Last Earnings
2/09/2024
Ex-Dividend for 3/1 Dividend
2/15/2024
Dividend Payable
3/01/2024
Today
4/17/2024
Next Earnings (Confirmed)
5/01/2024
Ex-Dividend for 6/1 Dividend
5/16/2024
Dividend Payable
6/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Utilities
Industry
Electric services
Sub-Industry
N/A
Employees
9,600
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$55.13
High Stock Price Target
$62.00
Low Stock Price Target
$37.00
Potential Upside/Downside
+46.4%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
4 Analysts

Profitability

Net Income
$1.17 billion
Pretax Margin
17.97%

Debt

Sales & Book Value

Annual Sales
$8.53 billion
Cash Flow
$4.96 per share
Book Value
$32.78 per share

Miscellaneous

Free Float
N/A
Market Cap
$18.56 billion
Optionable
Optionable
Beta
0.42
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Key Executives

  • Mr. David Gerard Hutchens (Age 57)
    President, CEO & Director
    Comp: $3.54M
  • Ms. Jocelyn H. Perry (Age 53)
    Executive VP & CFO
    Comp: $1.34M
  • Mr. Gary J. Smith (Age 62)
    Executive Vice President of Operations & Innovation
    Comp: $1.14M
  • Mr. James R. Reid
    Executive VP of Sustainability & Chief Legal Officer
  • Mr. Stuart I. Lochray
    Senior Vice President of Capital Markets & Business Development
  • Mr. Kevin D. Woodbury
    Vice President of Innovation & Technology
  • Mr. Ronald J. Hinsley
    Chief Information Officer & VP
  • Ms. Stephanie A. Amaimo
    Vice President of Investor Relations
  • Ms. Karen M. McCarthy BPR
    M.Ed, Vice President of Communications and Government Relations
  • Ms. Tanya Nicole Finlay
    Vice President of People & Culture

Should I Buy Fortis Stock? FTS Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Fortis Inc.:

  • Fortis Inc. has a stable financial performance with a consistent track record of earnings growth, providing investors with a reliable income stream.
  • Recent insider buying activity by institutional investors like Baillie Gifford & Co. indicates confidence in the company's future prospects, which can be a positive signal for potential investors.
  • Fortis Inc. has a diversified business model operating in multiple regions, reducing the risk associated with geographic concentration.
  • The company's stock price has shown resilience and stability, with a market capitalization of $18.71 billion, indicating a strong position in the market.
  • Fortis Inc.'s focus on renewable energy sources such as solar and wind capacity aligns with the growing global trend towards sustainable energy solutions, potentially attracting environmentally conscious investors.

Cons

Investors should be bearish about investing in Fortis Inc. for these reasons:

  • Fortis Inc. operates in a highly regulated industry, subject to government policies and regulations that could impact the company's operations and profitability.
  • The company's debt-to-equity ratio of 1.27 indicates a relatively high level of leverage, which may pose risks during economic downturns or rising interest rates.
  • Fortis Inc.'s P/E ratio of 16.50 and P/E/G ratio of 2.74 suggest that the stock may be currently overvalued compared to its growth prospects, potentially limiting upside potential for investors.
  • Despite the stable performance, Fortis Inc. faces competition from other utility companies and potential disruptions in the energy sector, which could impact its market position and profitability.
  • The company's beta of 0.42 indicates lower volatility compared to the market, which may result in slower price movements and potentially lower returns for investors seeking higher-risk investments.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, April 11, 2024. Please send any questions or comments about these Fortis pros and cons to contact@marketbeat.com.

FTS Stock Analysis - Frequently Asked Questions

Should I buy or sell Fortis stock right now?

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last twelve months. There are currently 1 sell rating, 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" FTS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FTS, but not buy additional shares or sell existing shares.
View FTS analyst ratings
or view top-rated stocks.

What is Fortis' stock price target for 2024?

4 analysts have issued 1-year price targets for Fortis' shares. Their FTS share price targets range from $37.00 to $62.00. On average, they predict the company's stock price to reach $55.13 in the next year. This suggests a possible upside of 46.4% from the stock's current price.
View analysts price targets for FTS
or view top-rated stocks among Wall Street analysts.

How have FTS shares performed in 2024?

Fortis' stock was trading at $41.13 at the beginning of 2024. Since then, FTS stock has decreased by 8.5% and is now trading at $37.6450.
View the best growth stocks for 2024 here
.

Are investors shorting Fortis?

Fortis saw a increase in short interest during the month of March. As of March 31st, there was short interest totaling 8,810,000 shares, an increase of 11.1% from the March 15th total of 7,930,000 shares. Based on an average trading volume of 863,700 shares, the short-interest ratio is presently 10.2 days.
View Fortis' Short Interest
.

When is Fortis' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 1st 2024.
View our FTS earnings forecast
.

How can I listen to Fortis' earnings call?

Fortis will be holding an earnings conference call on Wednesday, May 1st at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 289-819-1325 with passcode "46112#".

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) posted its quarterly earnings data on Friday, February, 9th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The utilities provider earned $2.12 billion during the quarter, compared to the consensus estimate of $2.39 billion. Fortis had a trailing twelve-month return on equity of 7.00% and a net margin of 13.22%. During the same period in the prior year, the business earned $0.53 EPS.

How often does Fortis pay dividends? What is the dividend yield for Fortis?

Fortis announced a quarterly dividend on Monday, February 12th. Shareholders of record on Friday, May 17th will be given a dividend of $0.4382 per share on Saturday, June 1st. This represents a $1.75 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Thursday, May 16th. This is a positive change from the stock's previous quarterly dividend of $0.44.
Read our dividend analysis for FTS
.

Is Fortis a good dividend stock?

Fortis (NYSE:FTS) pays an annual dividend of $1.75 per share and currently has a dividend yield of 4.67%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 76.09%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, FTS will have a dividend payout ratio of 72.92% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for FTS.

What other stocks do shareholders of Fortis own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Fortis investors own include Xtrackers California Municipal Bond ETF (CA), BlackRock (BLK), Endologix (ELGX), Chipotle Mexican Grill (CMG), Athabasca Oil (ATH), Micron Technology (MU), NIC (EGOV), Accenture (ACN), Workday (WDAY).

Who are Fortis' major shareholders?

Fortis' stock is owned by a number of institutional and retail investors. Top institutional shareholders include Addenda Capital Inc. (0.05%), Hennessy Advisors Inc. (0.02%), Nexus Investment Management ULC (0.02%), Miller Howard Investments Inc. NY (0.00%), Cardinal Capital Management Inc. (0.00%) and Pacifica Partners Inc. (0.00%).

How do I buy shares of Fortis?

Shares of FTS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:FTS) was last updated on 4/18/2024 by MarketBeat.com Staff

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