NYSE:FTSFortis Stock Price, Forecast & News

$38.36

-0.33 (-0.85 %)

(As of 05/29/2020 04:00 PM ET)

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Today's Range

$38.24

Now: $38.36▼

$39.02

50-Day Range

$35.99

MA: $37.89▼

$40.00

52-Week Range

$28.59

Now: $38.36▼

$44.72

Volume407,592 shs

Average Volume577,694 shs

Market Capitalization$17.81 billion

P/E Ratio18.27

Dividend Yield3.52%

Beta0.22

Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 64 MW; and distributes natural gas to approximately 1,030,000 customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 564,000 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 hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador serving approximately 268,000 customers with an installed generating capacity of 139 MW; and on Prince Edward Island serving approximately 81,000 customers through generating facilities with a combined capacity of 145 MW. Additionally, it provides integrated electric utility service to approximately 176,000 customers in British Columbia; approximately 268,000 customers in Newfoundland and Labrador; approximately 30,000 customers on Grand Cayman, Cayman Islands; and approximately 15,000 customers on certain islands in Turks and Caicos, as well as holds long-term contracted generation assets in British Columbia and Belize, and the Aitken Creek natural gas storage facility. It also owns and operates transmission and distribution lines; and natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

Beat the Market (BTM) Rank^™

4.3 Analyst's Opinion

Consensus Rating
Fortis has received a consensus rating of Buy. The company's average rating score is 2.67, and is based on 9 buy ratings, 2 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $57.57, Fortis has a potential upside of 50.1% from its current price of $38.36.
Amount of Analyst Coverage
Fortis has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

2.1 Community Rank

Outperform Votes
Fortis has received 263 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Fortis has received 349 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Fortis has received 57.03% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about Fortis and other stocks. Vote “Outperform” if you believe FTS will outperform the S&P 500 over the long term. Vote “Underperform” if you believe FTS will underperform the S&P 500 over the long term. You may vote once every thirty days.

3.3 Dividend Strength

Dividend Leadership
Fortis is a leading dividend payer. It pays a dividend yield of 3.52%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Fortis has only been increasing its dividend for 3 years.
Dividend Coverage
The dividend payout ratio of Fortis is 70.83 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Fortis will have a dividend payout ratio of 66.02 % next year. This indicates that Fortis will be able to sustain or increase its dividend.

1.0 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
51.70% of the stock of Fortis is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3 Earnings and Valuation

Earnings Growth
Earnings for Fortis are expected to grow by 7.29% in the coming year, from $1.92 to $2.06 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Fortis is 18.27, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.40.
Price to Earnings Ratio vs. Sector
The P/E ratio of Fortis is 18.27, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 28.38.
Price to Earnings Growth Ratio
Fortis has a PEG Ratio of 3.33. 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 1.21. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.40 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NYSE

Industry Electric services

Sub-IndustryN/A

SectorUtilities

Current SymbolNYSE:FTS

Previous Symbol

CUSIPN/A

CIK1058084

Webwww.fortisinc.com

Phone709-737-2800

Debt

Debt-to-Equity Ratio1.18

Current Ratio0.55

Quick Ratio0.47

Price-To-Earnings

Trailing P/E Ratio18.27

Forward P/E Ratio19.98

P/E Growth3.33

Sales & Book Value

Annual Sales$6.62 billion

Price / Sales2.69

Cash Flow$4.02 per share

Price / Cash Flow9.54

Book Value$31.79 per share

Price / Book1.21

Profitability

EPS (Most Recent Fiscal Year)$1.92

Net Income$1.30 billion

Net Margins13.69%

Return on Equity6.57%

Return on Assets2.23%

Miscellaneous

Employees8,970

Outstanding Shares464,300,000

Market Cap$17.81 billion

Next Earnings Date8/7/2020 (Estimated)

OptionableOptionable

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Fortis (NYSE:FTS) Frequently Asked Questions

How has Fortis' stock been impacted by COVID-19 (Coronavirus)?

Fortis' stock was trading at $38.65 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, FTS shares have decreased by 0.8% and is now trading at $38.36. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Fortis?

12 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last year. There are currently 1 sell rating, 2 hold ratings and 9 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Fortis.

When is Fortis' next earnings date?

Fortis is scheduled to release its next quarterly earnings announcement on Friday, August 7th 2020. View our earnings forecast for Fortis.

How were Fortis' earnings last quarter?

Fortis Inc (NYSE:FTS) issued its quarterly earnings data on Wednesday, May, 6th. The utilities provider reported $0.68 EPS for the quarter, topping the Zacks' consensus estimate of $0.52 by $0.16. The utilities provider had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $1.76 billion. Fortis had a return on equity of 6.57% and a net margin of 13.69%. During the same period in the previous year, the company earned $0.74 earnings per share. View Fortis' earnings history.

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

Fortis announced a quarterly dividend on Thursday, February 13th. Investors of record on Friday, May 15th will be given a dividend of $0.3593 per share on Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Thursday, May 14th. View Fortis' dividend history.

What price target have analysts set for FTS?

12 brokerages have issued twelve-month price targets for Fortis' stock. Their forecasts range from $55.00 to $60.00. On average, they anticipate Fortis' stock price to reach $57.57 in the next twelve months. This suggests a possible upside of 50.1% from the stock's current price. View analysts' price targets for Fortis.

Has Fortis been receiving favorable news coverage?

News stories about FTS stock have trended somewhat positive recently, according to InfoTrie. The research group rates the sentiment of press coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Fortis earned a coverage optimism score of 0.9 on InfoTrie's scale. They also gave press coverage about the utilities provider a news buzz of 10.0 out of 10, indicating that recent press coverage is extremely likely to have an impact on the stock's share price in the near future. View the latest news aboutFortis.

Are investors shorting Fortis?

Fortis saw a decrease in short interest in May. As of May 15th, there was short interest totaling 2,710,000 shares, a decrease of 53.1% from the April 30th total of 5,780,000 shares. Based on an average daily trading volume, of 672,200 shares, the short-interest ratio is presently 4.0 days. Approximately 0.6% of the shares of the stock are sold short. View Fortis' Current Options Chain.

Who are some of Fortis' key competitors?

Some companies that are related to Fortis include Dominion Energy (D), Southern (SO), American Electric Power (AEP), Eversource Energy (ES), CLP (CLPHY), FirstEnergy (FE), Edison International (EIX), PPL (PPL), DTE Energy (DTE), Entergy (ETR), EDP-Energias de Portugal, S.A (EDPFY), SSE PLC/S (SSEZY), Tenaga Nasional Bhd (TNABY), Avangrid (AGR) and Korea Electric Power (KEP). View all competitors.

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), NIC (EGOV), Aegean Marine Petroleum Network (ANW), Allergan (AGN), AutoZone (AZO) and Micron Technology (MU).

Who are Fortis' key executives?

Fortis' management team includes the following people:

Mr. Barry V. Perry, Pres, CEO & Director (Age 54)
Ms. Jocelyn H. Perry, Exec. VP & CFO
Ms. Nora M. Duke C.A., CA, Exec. VP of Sustainability & Chief Human Resource Officer (Age 57)
Mr. James P. Laurito, Exec. VP of Bus. Devel. (Age 63)
Mr. David Gerard Hutchens, Exec. VP of Western Utility Operations (Age 52)

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 institutional and retail investors. Top institutional shareholders include 1832 Asset Management L.P. (2.96%), 1832 Asset Management L.P. (2.76%), CIBC World Markets Inc. (1.70%), Legal & General Group Plc (1.53%), Morgan Stanley (1.44%) and Mackenzie Financial Corp (1.41%).

Which major investors are selling Fortis stock?

FTS stock was sold by a variety of institutional investors in the last quarter, including Zimmer Partners LP, Morgan Stanley, Toronto Dominion Bank, Intact Investment Management Inc., Guardian Capital LP, Alberta Investment Management Corp, Morgan Stanley, and CIBC World Markets Inc..

Which major investors are buying Fortis stock?

FTS stock was bought by a variety of institutional investors in the last quarter, including CIBC Asset Management Inc, 1832 Asset Management L.P., Mackenzie Financial Corp, The Manufacturers Life Insurance Company , Franklin Resources Inc., Connor Clark & Lunn Investment Management Ltd., 1832 Asset Management L.P., and AGF Investments Inc..

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 Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is Fortis' stock price today?

One share of FTS stock can currently be purchased for approximately $38.36.

How big of a company is Fortis?

Fortis has a market capitalization of $17.81 billion and generates $6.62 billion in revenue each year. The utilities provider earns $1.30 billion in net income (profit) each year or $1.92 on an earnings per share basis. Fortis employs 8,970 workers across the globe.

What is Fortis' official website?

The official website for Fortis is www.fortisinc.com.

How can I contact Fortis?

Fortis' mailing address is 5 SPRINGDALE STREET FORTIS PLACE SUITE 1100, ST. JOHN`S A4, A1E 0E4. The utilities provider can be reached via phone at 709-737-2800 or via email at [email protected]

This page was last updated on 5/29/2020 by MarketBeat.com Staff