NYSE:FTS

Fortis (FTS) Stock Forecast, Price & News

$40.31

+0.01 (+0.02%)

(As of 09/22/2023 ET)

Compare

Today's Range: $39.98
▼
$40.46
50-Day Range: $38.45
▼
$43.64
52-Week Range: $34.76
▼
$46.28

Volume: 752,290 shs
Average Volume: 646,130 shs
Market Capitalization: $19.61 billion

P/E Ratio: 18.24
Dividend Yield: 4.14%
Price Target: $56.58

Fortis MarketRank™ Forecast

Analyst Rating: Hold
2.25 Rating Score
Upside/Downside: 40.4% Upside
$56.58 Price Target
Short Interest: Healthy
2.32% of Shares Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: -3.20
Upright™ Environmental Score
News Sentiment: 0.52
Based on 20 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 4.09%
From $2.20 to $2.29 Per Share

Overall MarketRank^™

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

2.62 out of 5 stars

Utilities Sector

31st out of 85 stocks

Electric Services Industry

15th out of 41 stocks

3.1

Analyst's Opinion

Consensus Rating
Fortis has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 1 buy rating, 3 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $56.58, Fortis has a forecasted upside of 40.4% from its current price of $40.31.
Amount of Analyst Coverage
Fortis has only been the subject of 3 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
2.32% of the outstanding shares of Fortis have been sold short.
Short Interest Ratio / Days to Cover
Fortis has a short interest ratio ("days to cover") of 20.1, which indicates bearish sentiment.
Change versus previous month
Short interest in Fortis has recently decreased by 8.21%, indicating that investor sentiment is improving significantly.

2.5

Dividend Strength

Dividend Leadership
Fortis is a leading dividend payer. It pays a dividend yield of 4.14%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Fortis does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Fortis is 75.57%. Payout ratios above 75% are not desirable because they may not be sustainable.
Dividend Sustainability
Based on earnings estimates, Fortis will have a dividend payout ratio of 72.93% next year. This indicates that Fortis will be able to sustain or increase its dividend.

3.7

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Fortis has received a 47.26% net impact score from Upright. The largest positive contribution comes from its "Societal infrastructure" impact, which is mostly driven by its "Natural gas distribution services", "Main electricity grid operation services for electricity produced by waste", "Local electricity grid operation services for electricity produced by waste", "Main electricity grid operation services for electricity produced by renewable energy sources", and "Local electricty grid operation services for electricty produced by renewable energy sources" products. See details.
Environmental Sustainability
The Environmental Impact score for Fortis is -3.20.

3.1

News and Social Media Coverage

News Sentiment
Fortis has a news sentiment score of 0.52. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Utilities companies.
News Coverage This Week
MarketBeat has tracked 20 news articles for Fortis this week, compared to 4 articles on an average week.
Search Interest
19 people have searched for FTS on MarketBeat in the last 30 days. This is an increase of 58% compared to the previous 30 days.
MarketBeat Follows
7 people have added Fortis to their MarketBeat watchlist in the last 30 days. This is an increase of 600% compared to the previous 30 days.

0.8

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Fortis insiders have not sold or bought any company stock.
Percentage Held by Institutions
50.18% of the stock of Fortis is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Fortis are expected to grow by 4.09% in the coming year, from $2.20 to $2.29 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Fortis is 18.24, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 111.18.
Price to Earnings Ratio vs. Sector
The P/E ratio of Fortis is 18.24, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 90.17.
Price to Earnings Growth Ratio
Fortis has a PEG Ratio of 3.66. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Fortis has a P/B Ratio of 1.19. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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.

FTS Price History

30 days | 90 days | 365 days | Advanced Chart

FTS Stock News Headlines

September 23, 2023 | americanbankingnews.com

Fortis (NYSE:FTS) Given "Sector Perform" Rating at Royal Bank of Canada

September 23, 2023 | americanbankingnews.com

Fortis Inc. Expected to Earn FY2023 Earnings of $2.25 Per Share (NYSE:FTS)

September 24, 2023 | Altimetry (Ad)

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September 22, 2023 | finance.yahoo.com

Fortis (TSE:FTS) Is Paying Out A Larger Dividend Than Last Year

September 22, 2023 | americanbankingnews.com

Fortis (NYSE:FTS) PT Lowered to $37.00

September 21, 2023 | theglobeandmail.com

Closing Bell: Fortis Inc Pref Ser M up on Wednesday (FTS-PR-M)

September 20, 2023 | marketwatch.com

Fortis Inc Raises Quarterly Dividend to C$0.59 From C$0.565 >FTS.T

September 19, 2023 | marketwatch.com

Fortis Targets Investments in Grid, Renewable Energy in New C$25 Bln Capital Plan

September 24, 2023 | Behind the Markets (Ad)

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September 19, 2023 | markets.businessinsider.com

Fortis Announces 2024-2028 Capital Plan - Quick Facts

September 19, 2023 | finance.yahoo.com

Fortis Inc. Announces New $25 Billion Five Year Capital Outlook and 4.4% Increase in Fourth Quarter Dividend Marking 50 Years of Dividend Increases

September 19, 2023 | finance.yahoo.com

Fortis Inc. Establishes At-The-Market Equity Program

September 17, 2023 | msn.com

Tumultuous week for HOPE Christian Schools: serious student injury, campus merger, change in leadership

September 14, 2023 | msn.com

Mumbai News: Liver Donation Saves Man's Life At Fortis

September 13, 2023 | financialpost.com

Advisory: Fortis Inc. to Hold Investor Day in St. John’s, Newfoundland and Labrador on September 19

September 11, 2023 | msn.com

3 Reasons I’m Buying Fortis Stock Today

September 11, 2023 | markets.businessinsider.com

RBC Capital Reaffirms Their Hold Rating on Fortis (FTS)

September 8, 2023 | bloomberg.com

Ex-Fortis Banker Says Bosses Pressured Him to Pursue Controversial Tax Trades

September 7, 2023 | msn.com

Set and Forget: 2 Tremendous Stocks to Stash in a TFSA for 15 Years

September 7, 2023 | theglobeandmail.com

Closing Bell: Fortis Inc First Pref Ser G down on Wednesday (FTS-PR-G)

September 7, 2023 | msn.com

2 of the Best Dividend Stocks in Canada

September 2, 2023 | theglobeandmail.com

Closing Bell: Fortis Inc First Pref Ser G up on Friday (FTS-PR-G)

August 31, 2023 | theglobeandmail.com

Closing Bell: Fortis Inc Pref Ser J down on Wednesday (FTS-PR-J)

August 29, 2023 | fool.ca

4 Top Canadian Stocks for Retirement Income

August 25, 2023 | msn.com

FTS Stock: Buy, Sell, or Hold?

August 25, 2023 | seekingalpha.com

Fortis' Streamlined And Multi-Utility Approach Supports Sustainable Growth, Dividends

August 25, 2023 | theglobeandmail.com

Closing Bell: Fortis Inc Pref Ser M down on Thursday (FTS-PR-M)

See More Headlines

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FTS Company Calendar

Last Earnings: 8/02/2023
Ex-Dividend for 9/1 Dividend: 8/18/2023
Dividend Payable: 9/01/2023
Today: 9/24/2023
Next Earnings (Estimated): 10/27/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Electric services
Sub-Industry: N/A
Sector: Utilities
Current Symbol: NYSE:FTS
CUSIP: N/A
CIK: 1058084
Web: www.fortisinc.com
Phone: (709) 737-2800
Fax: 709-737-5307
Employees: 9,200
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $56.58
High Stock Price Forecast: $62.00
Low Stock Price Forecast: $37.00
Forecasted Upside/Downside: +40.4%
Consensus Rating: Hold
Rating Score (0-4): 2.25
Research Coverage: 4 Analysts

Profitability

EPS (Most Recent Fiscal Year): $2.21
Trailing P/E Ratio: 18.24
Forward P/E Ratio: 18.32
P/E Growth: 3.66
Net Income: $1.07 billion
Net Margins: 12.40%
Pretax Margin: 16.70%
Return on Equity: 6.68%
Return on Assets: 2.22%

Debt

Debt-to-Equity Ratio: 1.26
Current Ratio: 0.79
Quick Ratio: 0.69

Sales & Book Value

Annual Sales: $8.49 billion
Price / Sales: 2.31
Cash Flow: $4.68 per share
Price / Cash Flow: 8.61
Book Value: $33.85 per share
Price / Book: 1.19

Miscellaneous

Outstanding Shares: 486,450,000
Free Float: N/A
Market Cap: $19.61 billion
Optionable: Optionable
Beta: 0.45

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Key Executives

Mr. David Gerard Hutchens (Age 56)
Pres, CEO & Director
Comp: $3.53M

Ms. Jocelyn H. Perry (Age 51)
Exec. VP & CFO
Comp: $1.34M

Mr. Gary J. Smith (Age 61)
Exec. VP of Operations & Innovation
Comp: $1.14M

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

Ms. Tanya Nicole Finlay
VP of People & Culture

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

FTS Stock - 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 3 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 forecast for 2023?: 4 analysts have issued twelve-month price objectives for Fortis' shares. Their FTS share price forecasts range from $37.00 to $62.00. On average, they predict the company's stock price to reach $56.58 in the next twelve months. This suggests a possible upside of 40.4% 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 2023?: Fortis' stock was trading at $40.04 at the beginning of the year. Since then, FTS stock has increased by 0.7% and is now trading at $40.31.
View the best growth stocks for 2023 here.
Are investors shorting Fortis?: Fortis saw a decline in short interest in August. As of August 31st, there was short interest totaling 11,290,000 shares, a decline of 8.2% from the August 15th total of 12,300,000 shares. Based on an average trading volume of 561,200 shares, the days-to-cover ratio is presently 20.1 days.
View Fortis' Short Interest.
When is Fortis' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Friday, October 27th 2023.
View our FTS earnings forecast.
How were Fortis' earnings last quarter?: Fortis Inc. (NYSE:FTS) posted its quarterly earnings data on Wednesday, August, 2nd. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The utilities provider had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.99 billion. Fortis had a trailing twelve-month return on equity of 6.68% and a net margin of 12.40%. During the same period in the prior year, the business earned $0.44 earnings per share.
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 given a dividend of $0.437 per share on Friday, December 1st. This represents a $1.75 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Thursday, November 16th. This is a positive change 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 $1.67 per share and currently has a dividend yield of 4.14%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 75.57%. 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 72.93% 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 variety of retail and institutional investors. Top institutional investors include Bank of Montreal Can (5.41%), TD Asset Management Inc (2.26%), Beutel Goodman & Co Ltd. (1.93%), 1832 Asset Management L.P. (1.92%), Scotia Capital Inc. (1.52%) and Mackenzie Financial Corp (1.50%).
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 $40.31.
How much money does Fortis make?: Fortis (NYSE:FTS) has a market capitalization of $19.61 billion and generates $8.49 billion in revenue each year. The utilities provider earns $1.07 billion in net income (profit) each year or $2.21 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 9/24/2023 by MarketBeat.com Staff

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