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TSE:FTS

Fortis (FTS) Stock Price, News & Analysis

C$54.09
-0.47 (-0.86%)
(As of 06/12/2024 ET)
Today's Range
C$53.99
C$55.06
50-Day Range
C$51.32
C$56.19
52-Week Range
C$49.82
C$57.93
Volume
1.18 million shs
Average Volume
1.69 million shs
Market Capitalization
C$26.67 billion
P/E Ratio
17.28
Dividend Yield
4.36%
Price Target
C$57.38

Fortis MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
6.1% Upside
C$57.38 Price Target
Short Interest
N/A
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
N/A
Insider Trading
N/A
Proj. Earnings Growth
N/A

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

0.28 out of 5 stars

FTS stock logo

About Fortis Stock (TSE: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 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 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 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 592,000 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 five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW. Additionally, it provides integrated electric utility service to approximately 69,000 customers in Ontario; approximately 275,000 customers in Newfoundland and Labrador; approximately 34,000 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 90,500 circuit Kilometers (km) of distribution lines; and approximately 51,600 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

FTS Stock Price History

FTS Stock News Headlines

Fortis Non-GAAP EPS of C$0.93
Fortis 1Q Profit Rises
Fortis: Q1 Earnings Snapshot
3 Top Dividend Stocks to Buy Hand Over Fist
See More Headlines
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Company Calendar

Last Earnings
5/01/2024
Ex-Dividend for 6/1 Dividend
5/16/2024
Dividend Payable
6/01/2024
Today
6/12/2024
Next Earnings (Estimated)
8/07/2024

Industry, Sector and Symbol

Sector
Utilities
Industry
Utilities - Regulated Electric
Sub-Industry
N/A
CIK
N/A
Fax
N/A
Employees
9,598
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
C$57.38
High Stock Price Target
C$61.50
Low Stock Price Target
C$50.00
Potential Upside/Downside
+6.1%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
8 Analysts

Profitability

Net Income
C$1.53 billion
Pretax Margin
N/A

Debt

Sales & Book Value

Annual Sales
C$11.32 billion
Cash Flow
C$0.82 per share
Book Value
C$41.62 per share

Miscellaneous

Free Float
N/A
Market Cap
C$26.67 billion
Optionable
Not Optionable
Beta
0.18
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Key Executives

  • Mr. David Gerard Hutchens (Age 57)
    President, CEO & Director
    Comp: $6.06M
  • Ms. Jocelyn H. Perry (Age 53)
    Executive VP & CFO
    Comp: $2.14M
  • Mr. Gary J. Smith (Age 62)
    Executive Vice President of Operations & Innovation
    Comp: $1.86M
  • Mr. James R. Reid
    Executive VP of Sustainability & Chief Legal Officer
  • Mr. Stuart R. Lochray (Age 51)
    Senior Vice President of Capital Markets & Business Development
    Comp: $1.23M
  • Mr. Kevin D. Woodbury
    Vice President of Innovation & Technology
  • Ms. Keri L. Glitch
    Chief Information Officer & VP
  • Ms. Stephanie A. Amaimo
    Vice President of Investor Relations
  • Ms. Karen M. McCarthy BPR
    M.Ed, Vice President of Communications and Government Relations
  • Ms. Tanya Nicole Finlay
    Vice President of People & Culture

Should I Buy Fortis Stock? FTS Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Fortis Inc.:

  • Fortis Inc. has shown consistent revenue growth over the past few quarters, indicating a strong financial performance.
  • The company has a stable dividend history, making it an attractive option for income-seeking investors.
  • Fortis Inc. has a solid track record of successfully completing acquisitions, which could lead to further expansion and increased market share.
  • Recent regulatory approvals for key projects have positioned Fortis Inc. for future growth and profitability.
  • With a current stock price trading at a reasonable valuation compared to its industry peers, Fortis Inc. presents a potential value opportunity for investors.

Cons

Investors should be bearish about investing in Fortis Inc. for these reasons:

  • Fortis Inc. operates in a highly regulated industry, subjecting the company to potential regulatory risks that could impact its operations and financial performance.
  • The company's heavy reliance on debt financing may pose a risk, especially in a rising interest rate environment.
  • Market competition and changing consumer preferences could challenge Fortis Inc.'s market position and profitability in the long term.
  • External factors such as economic downturns or natural disasters could affect Fortis Inc.'s operations and financial stability.
  • Investors should carefully monitor Fortis Inc.'s debt levels and capital structure to assess the company's financial health and risk profile.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, June 2, 2024. Please send any questions or comments about these Fortis pros and cons to contact@marketbeat.com.

FTS Stock Analysis - Frequently Asked Questions

Should I buy or sell Fortis stock right now?

8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last year. There are currently 1 sell rating, 6 hold ratings and 1 buy rating for the stock. The consensus among Wall Street 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 target for 2024?

8 equities research analysts have issued 1 year price objectives for Fortis' stock. Their FTS share price targets range from C$50.00 to C$61.50. On average, they anticipate the company's stock price to reach C$57.38 in the next twelve months. This suggests a possible upside of 6.1% 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 2024?

Fortis' stock was trading at C$54.51 at the beginning of 2024. Since then, FTS stock has decreased by 0.8% and is now trading at C$54.09.
View the best growth stocks for 2024 here
.

When is Fortis' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 7th 2024.
View our FTS earnings forecast
.

How were Fortis' earnings last quarter?

Fortis Inc. (TSE:FTS) posted its quarterly earnings results on Wednesday, May, 1st. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.34 billion. Fortis had a trailing twelve-month return on equity of 7.38% and a net margin of 14.11%.

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

Fortis announced a quarterly dividend on Thursday, May 16th. Shareholders of record on Saturday, June 1st will be paid a dividend of 0.59 per share on Saturday, June 1st. This represents a $2.36 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Thursday, May 16th.
Read our dividend analysis for FTS
.

Is Fortis a good dividend stock?

Fortis (TSE:FTS) pays an annual dividend of C$2.36 per share and currently has a dividend yield of 4.25%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 75.40%. Payout ratios above 75% are not desirable because they may not be sustainable.
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 Enbridge (ENB), Bank of Nova Scotia (BNS), Royal Bank of Canada (RY), Toronto-Dominion Bank (TD), TELUS (T), BCE (BCE), Bank of Montreal (BMO), Emera (EMA), TC Energy (TRP) and Canadian National Railway (CNR).

How do I buy shares of Fortis?

Shares of FTS stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
Compare Top Brokerages Here.

This page (TSE:FTS) was last updated on 6/12/2024 by MarketBeat.com Staff

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