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NYSE:FTS

Fortis (FTS) Stock Price, News & Analysis

$39.04
+0.62 (+1.61%)
(As of 04:30 PM ET)
Today's Range
$38.55
$39.05
50-Day Range
$37.14
$41.11
52-Week Range
$36.30
$43.84
Volume
592,079 shs
Average Volume
816,760 shs
Market Capitalization
$19.25 billion
P/E Ratio
16.83
Dividend Yield
4.38%
Price Target
$55.13

Fortis MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
41.2% Upside
$55.13 Price Target
Short Interest
Bearish
2.59% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-3.20
Upright™ Environmental Score
News Sentiment
0.53mentions of Fortis in the last 14 days
Based on 10 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
2.15%
From $2.33 to $2.38 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.

4.22 out of 5 stars

Utilities Sector

32nd out of 90 stocks

Electric Services Industry

12th out of 41 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 (NYSE:FTS) Cut to "Sell" at StockNews.com
Fortis (NYSE:FTS) Raised to Hold at StockNews.com
Q1 2024 Fortis Inc Earnings Call Transcript
Fortis Inc. Releases First Quarter 2024 Results
Taking A Look At Fortis Inc.'s (TSE:FTS) ROE
See More Headlines
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Company Calendar

Ex-Dividend for 3/1 Dividend
2/15/2024
Dividend Payable
3/01/2024
Last Earnings
5/01/2024
Ex-Dividend for 6/1 Dividend
5/16/2024
Today
5/30/2024
Dividend Payable
6/01/2024
Next Earnings (Estimated)
8/07/2024
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
+42.6%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
4 Analysts

Profitability

Net Income
$1.17 billion
Pretax Margin
18.55%

Debt

Sales & Book Value

Annual Sales
$8.53 billion
Cash Flow
$4.87 per share
Book Value
$33.67 per share

Miscellaneous

Free Float
N/A
Market Cap
$19.06 billion
Optionable
Optionable
Beta
0.43
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Key Executives

  • Mr. David Gerard Hutchens (Age 57)
    President, CEO & Director
    Comp: $4.43M
  • Ms. Jocelyn H. Perry (Age 53)
    Executive VP & CFO
    Comp: $1.56M
  • Mr. Gary J. Smith (Age 62)
    Executive Vice President of Operations & Innovation
    Comp: $1.36M
  • Mr. James R. Reid
    Executive VP of Sustainability & Chief Legal Officer
  • Mr. Stuart R. Lochray (Age 51)
    Senior Vice President of Capital Markets & Business Development
    Comp: $900.78k
  • Mr. Kevin D. Woodbury
    Vice President of Innovation & Technology
  • Ms. Keri L. Glitch
    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

FTS Stock Analysis - Frequently Asked Questions

Should I buy or sell Fortis stock right now?

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last year. There are currently 1 sell rating, 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research 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 Wall Street analysts have issued 12-month price targets for Fortis' stock. Their FTS share price targets range from $37.00 to $62.00. On average, they expect the company's share price to reach $55.13 in the next twelve months. This suggests a possible upside of 41.2% 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 on January 1st, 2024. Since then, FTS stock has decreased by 5.1% and is now trading at $39.04.
View the best growth stocks for 2024 here
.

Are investors shorting Fortis?

Fortis saw a increase in short interest during the month of May. As of May 15th, there was short interest totaling 12,770,000 shares, an increase of 16.1% from the April 30th total of 11,000,000 shares. Based on an average daily volume of 740,700 shares, the short-interest ratio is currently 17.2 days.
View Fortis' Short Interest
.

When is Fortis' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 7th 2024.
View our FTS earnings forecast
.

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) announced its quarterly earnings data on Wednesday, May, 1st. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The utilities provider earned $2.31 billion during the quarter, compared to the consensus estimate of $2.43 billion. Fortis had a trailing twelve-month return on equity of 7.02% and a net margin of 13.66%.

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

Fortis declared a quarterly dividend on Monday, February 12th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.4382 per share on Saturday, June 1st. This represents a $1.75 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend 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 $1.71 per share and currently has a dividend yield of 4.36%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 4 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 73.71%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, FTS will have a dividend payout ratio of 71.85% 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 many different institutional and retail investors. Top institutional investors include Vanguard Group Inc. (4.07%), TD Asset Management Inc (2.41%), 1832 Asset Management L.P. (1.85%), Toronto Dominion Bank (1.45%), National Bank of Canada FI (1.08%) and Clearbridge Investments LLC (0.62%).

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 5/30/2024 by MarketBeat.com Staff

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