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AMD   129.11 (+0.58%)
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NVDA   476.47 (+2.26%)
NIO   7.40 (-1.20%)
BABA   72.26 (-0.10%)
AMD   129.11 (+0.58%)
T   16.89 (-1.17%)
F   11.04 (+2.03%)
MU   75.27 (+2.20%)
CGC   0.79 (+9.09%)
GE   120.48 (+0.84%)
DIS   92.84 (+0.53%)
AMC   6.94 (+1.76%)
PFE   28.81 (+0.63%)
PYPL   58.94 (+0.79%)
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Fortis Stock Price, News & Analysis (NYSE:FTS)

$40.66
-0.20 (-0.49%)
(As of 02:57 PM ET)
Compare
Today's Range
$40.48
$40.86
50-Day Range
$36.93
$41.65
52-Week Range
$36.30
$46.28
Volume
281,540 shs
Average Volume
648,755 shs
Market Capitalization
$19.86 billion
P/E Ratio
17.76
Dividend Yield
4.30%
Price Target
$56.58

Fortis MarketRank™ Stock Analysis

Analyst Rating
Hold
2.25 Rating Score
Upside/​Downside
39.5% Upside
$56.58 Price Target
Short Interest
Bearish
3.31% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-3.20
Upright™ Environmental Score
News Sentiment
0.54mentions of Fortis in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
3.12%
From $2.24 to $2.31 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.23 out of 5 stars

Utilities Sector

43rd out of 86 stocks

Electric Services Industry

20th out of 36 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 443,000 retail customers in southeastern Arizona; and 102,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,328 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 1,076,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 584,000 customers in southern and central Alberta; owns 4 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 143 MW; and on Prince Edward Island with a generating capacity of 90 MW. Additionally, it provides integrated electric utility service to approximately 68,000 customers in Ontario; approximately 274,000 customers in Newfoundland and Labrador; approximately 33,000 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 90,200 circuit Kilometers (km) of distribution lines; and approximately 51,200 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

Recent Reports Are A Wake-Up Call For Investors
As the demand for lithium, an essential element to the energy revolution, increases globally, researchers are projecting a supply deficit as early as 2025. This has sparked a worldwide "gold rush" to find and develop new sources of this critical metal. Savvy investors are paying attention as mining companies race to meet this critical deadline.
Fortis Inc. (NYSE:FTS) Sees Large Growth in Short Interest
Recent Reports Are A Wake-Up Call For Investors
As the demand for lithium, an essential element to the energy revolution, increases globally, researchers are projecting a supply deficit as early as 2025. This has sparked a worldwide "gold rush" to find and develop new sources of this critical metal. Savvy investors are paying attention as mining companies race to meet this critical deadline.
Closing Bell: Fortis Inc Pref Ser H flat on Monday (FTS-PR-H)
Closing Bell: Fortis Inc Pref Ser H up on Tuesday (FTS-PR-H)
FTS Stock: Buy, Sell or Hold?
Fortis Inc. (NYSE:FTS) Q3 2023 Earnings Call Transcript
CIBC Sticks to Their Hold Rating for Fortis (FTS)
Is Fortis Stock a Buy?
See More Headlines
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Company Calendar

Last Earnings
10/27/2023
Ex-Dividend for 12/1 Dividend
11/16/2023
Dividend Payable
12/01/2023
Today
12/08/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/09/2024

Industry, Sector and Symbol

Industry
Electric services
Sub-Industry
N/A
Sector
Utilities
Employees
9,200
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$56.58
High Stock Price Target
$62.00
Low Stock Price Target
$37.00
Potential Upside/Downside
+38.5%
Consensus Rating
Hold
Rating Score (0-4)
2.25
Research Coverage
4 Analysts

Profitability

Net Income
$1.07 billion
Pretax Margin
17.33%

Debt

Sales & Book Value

Annual Sales
$8.49 billion
Cash Flow
$4.81 per share
Book Value
$33.85 per share

Miscellaneous

Free Float
N/A
Market Cap
$19.96 billion
Optionable
Optionable
Beta
0.45
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Key Executives

  • Mr. David Gerard Hutchens (Age 56)
    President, CEO & Director
    Comp: $3.51M
  • Ms. Jocelyn H. Perry (Age 51)
    Executive VP & CFO
    Comp: $1.33M
  • Mr. Gary J. Smith (Age 61)
    Executive Vice President of Operations & Innovation
    Comp: $1.13M
  • 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

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Fortis was last updated on Tuesday, November 28, 2023 at 10:21 PM.

Pros

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

  • 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 3.4 million customers.
  • Fortis Inc. has a strong presence in the energy sector and provides essential services to consumers.
  • The company has a long history, being founded in 1885, which demonstrates its stability and resilience.
  • Fortis Inc. has a diverse portfolio of assets, including approximately 51,200 km of natural gas pipelines.

Cons

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

  • Fortis Inc. operates in a regulated industry, which can limit its ability to increase prices and generate higher profits.
  • The company's operations are subject to various environmental and regulatory risks.
  • Fluctuations in energy prices can impact Fortis Inc.'s financial performance.
  • Competition in the energy sector can pose challenges to Fortis Inc.'s market share and profitability.
  • Investors should consider the current stock price and evaluate its potential for future growth.














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 year. There are currently 3 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 Wall Street research analysts have issued 1-year price objectives for Fortis' stock. Their FTS share price targets range from $37.00 to $62.00. On average, they anticipate the company's stock price to reach $56.58 in the next twelve months. This suggests a possible upside of 39.5% 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 2023?

Fortis' stock was trading at $40.04 at the beginning of the year. Since then, FTS stock has increased by 1.3% and is now trading at $40.57.
View the best growth stocks for 2023 here
.

Are investors shorting Fortis?

Fortis saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 16,190,000 shares, an increase of 14.0% from the October 31st total of 14,200,000 shares. Based on an average daily volume of 818,800 shares, the short-interest ratio is presently 19.8 days.
View Fortis' Short Interest
.

When is Fortis' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Friday, February 9th 2024.
View our FTS earnings forecast
.

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) posted its quarterly earnings data on Friday, October, 27th. The utilities provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.06. The utilities provider had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.99 billion. Fortis had a trailing twelve-month return on equity of 6.96% and a net margin of 12.81%.

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

Fortis declared a quarterly dividend on Tuesday, September 19th. Investors of record on Friday, November 17th will be paid a dividend of $0.437 per share on Friday, December 1st. This represents a $1.75 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Thursday, November 16th. This is a boost from the stock's previous quarterly dividend of $0.43.
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 4.33%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 76.42%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, FTS will have a dividend payout ratio of 75.76% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for FTS.

What ETF holds Fortis' stock ?

Cizzle Biotechnology holds 791 shares of FTS stock, representing 0.08% of its portfolio.

What other stocks do shareholders of Fortis own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Fortis investors own include CA (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 variety of retail and institutional investors. Top institutional shareholders include Toronto Dominion Bank (2.59%), TD Asset Management Inc (2.24%), Scotia Capital Inc. (1.58%), Mackenzie Financial Corp (1.54%), Bank of Nova Scotia (1.44%) and Connor Clark & Lunn Investment Management Ltd. (1.25%).

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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NYSE:FTS) was last updated on 12/8/2023 by MarketBeat.com Staff

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