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NYSE:FTS

Fortis - FTS Stock Forecast, Price & News

$40.45
+0.16 (+0.40%)
(As of 12/1/2022 11:48 AM ET)
Add
Compare
Today's Range
$40.34
$40.84
50-Day Range
$35.44
$41.76
52-Week Range
$34.76
$51.66
Volume
15,465 shs
Average Volume
935,979 shs
Market Capitalization
$19.43 billion
P/E Ratio
19.17
Dividend Yield
4.30%
Price Target
$58.71

Fortis MarketRank™ Forecast

Analyst Rating
Hold
1.80 Rating Score
Upside/​Downside
44.1% Upside
$58.71 Price Target
Short Interest
Bearish
3.18% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-3.24
Upright™ Environmental Score
News Sentiment
0.43mentions of Fortis in the last 14 days
Based on 2 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
8.46%
From $2.01 to $2.18 Per Share

Overall MarketRank

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

2.15 out of 5 stars

Utilities Sector

47th out of 87 stocks

Electric Services Industry

25th out of 42 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 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.

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FTS Stock News Headlines

Read This Before Judging Fortis Inc.'s (TSE:FTS) ROE
Brokerages Set Fortis Inc. (NYSE:FTS) Price Target at $58.71
"We will NEVER sell out to China!"
So says the CEO of an exploratory mining company advancing U.S. interests to secure U.S. domestic supplies of lithium, cobalt, and rare earth metals. These minerals are listed as "critical" for U.S. economic and national security. Yet China controls up to 90% of these markets and is aggressively locking up the rest.
Fortis' (TSE:FTS) Dividend Will Be Increased To CA$0.565
"We will NEVER sell out to China!"
So says the CEO of an exploratory mining company advancing U.S. interests to secure U.S. domestic supplies of lithium, cobalt, and rare earth metals. These minerals are listed as "critical" for U.S. economic and national security. Yet China controls up to 90% of these markets and is aggressively locking up the rest.
3 TSX Stocks That Are Great Long-Term Picks
3 Reasons to Buy Fortis (TSX:FTS) Now
3 Recession Resistant Stocks to Buy Right Now
See More Headlines
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FTS Company Calendar

Last Earnings
10/28/2022
Ex-Dividend for 12/1 Dividend
11/16/2022
Today
12/01/2022
Dividend Payable
12/01/2022
Fiscal Year End
12/31/2022
Next Earnings (Estimated)
2/10/2023

Industry, Sector and Symbol

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

Price Target and Rating

Average Stock Price Forecast
$58.71
High Stock Price Forecast
$63.00
Low Stock Price Forecast
$56.00
Forecasted Upside/Downside
+45.2%
Consensus Rating
Hold
Rating Score (0-4)
1.80
Research Coverage
5 Analysts

Profitability

Net Income
$1.03 billion
Pretax Margin
16.41%

Debt

Sales & Book Value

Annual Sales
$7.54 billion
Cash Flow
$4.61 per share
Book Value
$34.02 per share

Miscellaneous

Free Float
N/A
Market Cap
$19.43 billion
Optionable
Optionable
Beta
0.42

Key Executives

  • Mr. David Gerard Hutchens (Age 55)
    Pres, CEO & Director
    Comp: $2.73M
  • Ms. Jocelyn H. Perry (Age 51)
    Exec. VP & CFO
    Comp: $1.13M
  • Mr. James R. Reid
    Exec. VP of Sustainability & Chief Legal Officer
  • Mr. Gary J. Smith (Age 60)
    Exec. VP of Operations & Innovation
  • 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 & Corp. Affairs
  • Mr. Regan P. O'Dea
    VP & Gen. Counsel
  • Ms. Susan M. Gray (Age 49)
    Exec. VP of Western Utility Operations













FTS Stock - Frequently Asked Questions

Should I buy or sell Fortis stock right now?

5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last year. There are currently 2 sell ratings, 2 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?

5 equities research analysts have issued twelve-month price objectives for Fortis' shares. Their FTS share price forecasts range from $56.00 to $63.00. On average, they anticipate the company's stock price to reach $58.71 in the next twelve months. This suggests a possible upside of 45.7% 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 2022?

Fortis' stock was trading at $48.27 at the beginning of the year. Since then, FTS stock has decreased by 16.5% and is now trading at $40.29.
View the best growth stocks for 2022 here
.

Are investors shorting Fortis?

Fortis saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 15,250,000 shares, an increase of 18.6% from the October 31st total of 12,860,000 shares. Based on an average trading volume of 883,200 shares, the days-to-cover ratio is presently 17.3 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 10th 2023.
View our FTS earnings forecast
.

How were Fortis' earnings last quarter?

Fortis Inc. (NYSE:FTS) announced its earnings results on Friday, October, 28th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. The utilities provider earned $1.96 billion during the quarter, compared to analysts' expectations of $1.69 billion. Fortis had a net margin of 12.47% and a trailing twelve-month return on equity of 6.48%.

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

Fortis announced a quarterly dividend on Thursday, November 17th. Shareholders of record on Wednesday, February 15th will be given a dividend of $0.415 per share on Wednesday, March 1st. This represents a $1.66 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Tuesday, February 14th. This is a positive change from the stock's previous quarterly dividend of $0.41.
Read our dividend analysis for FTS
.

Is Fortis a good dividend stock?

Fortis (NYSE:FTS) pays an annual dividend of $1.69 per share and currently has a dividend yield of 4.29%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 80.10%. 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 77.52% 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 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 institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (3.72%), Toronto Dominion Bank (2.61%), TD Asset Management Inc. (2.20%), Beutel Goodman & Co Ltd. (1.65%), Mackenzie Financial Corp (1.12%) and The Manufacturers Life Insurance Company (0.88%).

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 $40.29.

How much money does Fortis make?

Fortis (NYSE:FTS) has a market capitalization of $19.35 billion and generates $7.54 billion in revenue each year. The utilities provider earns $1.03 billion in net income (profit) each year or $2.11 on an earnings per share basis.

How many employees does Fortis have?

The company 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 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 12/1/2022 by MarketBeat.com Staff