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Fortis Stock Forecast, Price & News

$47.90
+0.23 (+0.48%)
(As of 06/29/2022 11:16 AM ET)
Add
Compare
Today's Range
$47.75
$48.08
50-Day Range
$44.50
$51.19
52-Week Range
$43.12
$51.66
Volume
16,642 shs
Average Volume
620,753 shs
Market Capitalization
$22.85 billion
P/E Ratio
23.25
Dividend Yield
3.54%
Price Target
$59.73
30 days | 90 days | 365 days | Advanced Chart

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FTS Stock Forecast (MarketRank)

Overall MarketRank

2.04 out of 5 stars

Utilities Sector

65th out of 123 stocks

Electric Services Industry

26th out of 58 stocks

Analyst Opinion: 1.9Community Rank: 3.7Dividend Strength: 2.5Insider Behavior: 0.8Valuation: 1.3 5 -4 -3 -2 -1 -
Fortis logo

About Fortis (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 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 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 1,065,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 577,000 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 130 MW. Additionally, it provides integrated electric utility service to approximately 68,000 customers in Ontario; approximately 272,000 customers in Newfoundland and Labrador; approximately 32,000 customers on Grand Cayman, Cayman Islands; and approximately 16,000 customers on certain islands in Turks and Caicos. The company 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 50,500 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

FTS Stock News Headlines

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Industry, Sector and Symbol

Industry
Electric services
Sub-Industry
N/A
Sector
Utilities
Employees
9,095
Year Founded
N/A

Company Calendar

Last Earnings
5/04/2022
Ex-Dividend for 6/1 Dividend
5/16/2022
Dividend Payable
6/01/2022
Today
6/29/2022
Next Earnings (Estimated)
8/04/2022
Fiscal Year End
12/31/2022

Price Target and Rating

Average Stock Price Forecast
$59.73
High Stock Price Forecast
$64.00
Low Stock Price Forecast
$51.00
Forecasted Upside/Downside
+24.7%
Consensus Rating
Hold
Rating Score (0-4)
1.81818181818182
Research Coverage
11 Analysts

Profitability

Net Income
$1.03 billion
Pretax Margin
16.75%

Debt

Sales & Book Value

Annual Sales
$7.54 billion
Cash Flow
$4.63 per share
Book Value
$32.42 per share

Miscellaneous

Free Float
N/A
Market Cap
$22.85 billion
Optionable
Optionable
Beta
0.32














Fortis Frequently Asked Questions

Should I buy or sell Fortis stock right now?

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last year. There are currently 3 sell ratings, 7 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" Fortis stock. 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 analyst ratings for Fortis
or view top-rated stocks.

What is Fortis' stock price forecast for 2022?

11 Wall Street research analysts have issued 1-year price targets for Fortis' stock. Their FTS stock forecasts range from $51.00 to $64.00. On average, they anticipate Fortis' stock price to reach $59.73 in the next year. This suggests a possible upside of 24.9% from the stock's current price.
View analysts' price targets for Fortis
or view top-rated stocks among Wall Street analysts.

How has Fortis' stock price performed in 2022?

Fortis' stock was trading at $48.27 at the start of the year. Since then, FTS shares have decreased by 0.9% and is now trading at $47.82.
View the best growth stocks for 2022 here
.

Are investors shorting Fortis?

Fortis saw a decline in short interest during the month of May. As of May 31st, there was short interest totaling 6,570,000 shares, a decline of 28.1% from the May 15th total of 9,140,000 shares. Based on an average trading volume of 625,100 shares, the short-interest ratio is currently 10.5 days.
View Fortis' Short Interest
.

When is Fortis' next earnings date?

Fortis is scheduled to release its next quarterly earnings announcement on Thursday, July 28th 2022.
View our earnings forecast for Fortis
.

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) posted its earnings results on Wednesday, May, 4th. The utilities provider reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The utilities provider earned $2.24 billion during the quarter, compared to analysts' expectations of $2.05 billion. Fortis had a trailing twelve-month return on equity of 6.56% and a net margin of 12.90%.
View Fortis' earnings history
.

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

Fortis announced a quarterly dividend on Monday, February 14th. Investors of record on Tuesday, May 17th will be given a dividend of $0.4227 per share on Wednesday, June 1st. This represents a $1.69 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, May 16th.
View Fortis' dividend history
.

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 3.54%. The dividend payout ratio of Fortis is 81.07%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Fortis will have a dividend payout ratio of 71.98% next year. This indicates that Fortis will be able to sustain or increase its dividend.
View Fortis' dividend history.

Who are Fortis' key executives?

Fortis' management team includes the following people:
  • Mr. David Gerard Hutchens, Pres, CEO & Director (Age 55, Pay $2.83M)
  • Ms. Jocelyn H. Perry, Exec. VP & CFO (Age 51, Pay $1.17M)
  • Mr. James R. Reid, Exec. VP, Chief Legal Officer & Corp. Sec.
  • Ms. Nora M. Duke C.A., CA, Exec. VP of Sustainability & Chief Human Resource Officer (Age 60, Pay $1.14M)
  • Mr. Gary J. Smith, Exec. VP of Operations & Innovation (Age 60)
  • 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 & Corp. Affairs
  • Mr. Regan P. O'Dea, VP & Gen. Counsel
  • Ms. Susan M. Gray, Exec. VP of Western Utility Operations (Age 49)

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), (HON) and 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 many different institutional and retail investors. Top institutional investors include Bank of Montreal Can (4.22%), Vanguard Group Inc. (3.49%), 1832 Asset Management L.P. (2.30%), TD Asset Management Inc. (2.27%), Toronto Dominion Bank (1.83%) and GQG Partners LLC (1.82%).

Which institutional investors are selling Fortis stock?

FTS stock was sold by a variety of institutional investors in the last quarter, including Bank of Nova Scotia, 1832 Asset Management L.P., Bank of Montreal Can, Guardian Capital LP, Connor Clark & Lunn Investment Management Ltd., Beutel Goodman & Co Ltd., CIBC Asset Management Inc, and Barometer Capital Management Inc..

Which institutional investors are buying Fortis stock?

FTS stock was purchased by a variety of institutional investors in the last quarter, including GQG Partners LLC, The Manufacturers Life Insurance Company , OMERS ADMINISTRATION Corp, Caledonia Investments PLC, Vanguard Group Inc., Acadian Asset Management LLC, National Bank of Canada FI, and Swiss National Bank.

How do I buy shares of Fortis?

Shares of FTS 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 $47.82.

How much money does Fortis make?

Fortis (NYSE:FTS) has a market capitalization of $22.82 billion and generates $7.54 billion in revenue each year. The utilities provider earns $1.03 billion in net income (profit) each year or $2.059990 on an earnings per share basis.

How many employees does Fortis have?

Fortis employs 9,095 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 Fortis is www.fortisinc.com. The utilities provider can be reached via phone at (709) 737-2800, via email at [email protected], or via fax at 709-737-5307.

This page (NYSE:FTS) was last updated on 6/29/2022 by MarketBeat.com Staff

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