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Fortis (FTS) Stock Forecast, Price & News

$42.87
-0.09 (-0.21%)
(As of 10:03 AM ET)
Compare
Today's Range
$42.82
$43.07
50-Day Range
$41.77
$45.87
52-Week Range
$34.76
$49.01
Volume
47,897 shs
Average Volume
584,534 shs
Market Capitalization
$20.77 billion
P/E Ratio
19.31
Dividend Yield
3.92%
Price Target
$58.75

Fortis MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
36.8% Upside
$58.75 Price Target
Short Interest
Bearish
2.94% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-3.20
Upright™ Environmental Score
News Sentiment
0.77mentions of Fortis in the last 14 days
Based on 5 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
5.07%
From $2.17 to $2.28 Per Share

Overall MarketRank

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

2.40 out of 5 stars

Utilities Sector

37th out of 87 stocks

Electric Services Industry

16th out of 43 stocks


FTS stock logo

About Fortis (NYSE:FTS) Stock

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.

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FTS Stock News Headlines

All Electric Commitment From GM, Volkswagen, Could Put Lithium Sector In A Supercycle
More automakers are pledging to go "fully electric" by 2035. NOW is the perfect time to get in on the "EV Revolution." And the best way to potentially do that, is to skip over the overvalued electric vehicle stocks...
StockNews.com Begins Coverage on Fortis (NYSE:FTS)
All Electric Commitment From GM, Volkswagen, Could Put Lithium Sector In A Supercycle
More automakers are pledging to go "fully electric" by 2035. NOW is the perfect time to get in on the "EV Revolution." And the best way to potentially do that, is to skip over the overvalued electric vehicle stocks...
Fortis Inc. (NYSE:FTS) Short Interest Up 23.3% in April
Fortis Inc. Releases First Quarter 2023 Results
See More Headlines

FTS Price History

FTS Company Calendar

Last Earnings
5/03/2023
Ex-Dividend for 6/1 Dividend
5/16/2023
Dividend Payable
6/01/2023
Today
6/09/2023
Next Earnings (Estimated)
7/27/2023
Fiscal Year End
12/31/2023

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 Forecast
$58.75
High Stock Price Forecast
$65.00
Low Stock Price Forecast
$56.00
Forecasted Upside/Downside
+36.8%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
5 Analysts

Profitability

Net Income
$1.07 billion
Pretax Margin
16.74%

Debt

Sales & Book Value

Annual Sales
$11.53 billion
Cash Flow
$4.72 per share
Book Value
$33.85 per share

Miscellaneous

Free Float
N/A
Market Cap
$20.81 billion
Optionable
Optionable
Beta
0.44

Key Executives

  • Mr. David Gerard Hutchens (Age 56)
    Pres, CEO & Director
    Comp: $3.58M
  • Ms. Jocelyn H. Perry (Age 51)
    Exec. VP & CFO
    Comp: $1.36M
  • Mr. Gary J. Smith (Age 61)
    Exec. VP of Operations & Innovation
    Comp: $1.15M
  • Mr. James R. Reid
    Exec. VP of Sustainability & Chief Legal Officer
  • Mr. Stuart I. Lochray
    Sr. VP of Capital Markets & Bus. Devel.
  • Mr. Kevin D. Woodbury
    VP of Innovation & Technology
  • Mr. Ronald J. Hinsley
    Chief Information Officer & VP
  • Ms. Stephanie A. Amaimo
    VP of Investor Relations
  • Ms. Karen M. McCarthy BPR
    M.Ed, VP of Communications and Gov. Relations
  • Mr. Regan P. O'Dea
    VP & Gen. Counsel













FTS Stock - Frequently Asked Questions

Should I buy or sell Fortis stock right now?

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last twelve months. There are currently 1 sell rating, 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 forecast for 2023?

5 analysts have issued 1-year target prices for Fortis' stock. Their FTS share price forecasts range from $56.00 to $65.00. On average, they predict the company's share price to reach $58.75 in the next twelve months. This suggests a possible upside of 36.8% 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 2023. Since then, FTS shares have increased by 7.3% and is now trading at $42.9550.
View the best growth stocks for 2023 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 14,260,000 shares, an increase of 34.0% from the April 30th total of 10,640,000 shares. Based on an average daily volume of 604,600 shares, the short-interest ratio is currently 23.6 days.
View Fortis' Short Interest
.

When is Fortis' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
View our FTS earnings forecast
.

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) issued its quarterly earnings results on Wednesday, May, 3rd. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. The utilities provider had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.25 billion. Fortis had a net margin of 12.42% and a trailing twelve-month return on equity of 6.63%.

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

Fortis declared a quarterly dividend on Thursday, February 9th. Shareholders of record on Wednesday, May 17th will be paid a dividend of $0.565 per share on Thursday, June 1st. This represents a $2.26 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date is Tuesday, May 16th.
Read our dividend analysis for FTS
.

What ETFs hold Fortis' stock?

ETFs with the largest weight of Fortis (NYSE:FTS) stock in their portfolio include iShares U.S. Infrastructure ETF (IFRA).BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD).

Is Fortis a good dividend stock?

Fortis (NYSE:FTS) pays an annual dividend of $1.67 per share and currently has a dividend yield of 3.91%. The dividend payout ratio is 75.23%. 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 73.25% 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 CA (CA), BlackRock (BLK), Endologix (ELGX), Chipotle Mexican Grill (CMG), Athabasca Oil (ATH), Micron Technology (MU), NIC (EGOV), Accenture (ACN), Workday (WDAY).

What is Fortis' stock symbol?

Fortis trades on the New York Stock Exchange (NYSE) under the ticker symbol "FTS."

Who are Fortis' major shareholders?

Fortis' stock is owned by a number of retail and institutional investors. Top institutional shareholders include FIL Ltd (3.18%), GQG Partners LLC (2.73%), Toronto Dominion Bank (2.28%), 1832 Asset Management L.P. (1.97%), Scotia Capital Inc. (1.51%) and Mackenzie Financial Corp (1.21%).

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.

What is Fortis' stock price today?

One share of FTS stock can currently be purchased for approximately $42.96.

How much money does Fortis make?

Fortis (NYSE:FTS) has a market capitalization of $20.81 billion and generates $11.53 billion in revenue each year. The utilities provider earns $1.07 billion in net income (profit) each year or $2.22 on an earnings per share basis.

How many employees does Fortis have?

The company employs 9,200 workers across the globe.

How can I contact Fortis?

Fortis' mailing address is 5 SPRINGDALE STREET FORTIS PLACE SUITE 1100, ST. JOHN`S A4, A1E 0E4. The official website for the company is www.fortisinc.com. The utilities provider can be reached via phone at (709) 737-2800, via email at investorrelations@fortisinc.com, or via fax at 709-737-5307.

This page (NYSE:FTS) was last updated on 6/9/2023 by MarketBeat.com Staff

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