Scotiabank Has Bullish Estimate for Fortis FY2026 Earnings

Fortis (NYSE:FTS) – Equities researchers at Scotiabank lifted their FY2026 EPS estimates for Fortis in a research report issued on Thursday, February 19th. Scotiabank analyst R. Hope now forecasts that the utilities provider will post earnings of $2.65 per share for the year, up from their prior forecast of $2.62. Scotiabank has a “Sector Perform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Scotiabank also issued estimates for Fortis’ FY2027 earnings at $2.81 EPS.

Fortis (NYSE:FTS) last issued its quarterly earnings data on Thursday, February 12th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Fortis had a return on equity of 7.24% and a net margin of 14.24%.The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the company posted $0.83 earnings per share.

Several other equities research analysts also recently weighed in on FTS. TD Securities reissued a “buy” rating on shares of Fortis in a report on Tuesday. National Bank Financial reiterated a “sector perform” rating on shares of Fortis in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortis in a report on Thursday, January 22nd. Royal Bank Of Canada reissued a “sector perform” rating on shares of Fortis in a report on Friday, February 13th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Fortis in a research report on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Fortis presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Fortis Stock Down 0.4%

Shares of NYSE FTS opened at $56.28 on Friday. The business has a 50-day moving average price of $53.03 and a 200 day moving average price of $51.46. The stock has a market cap of $28.55 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 4.29 and a beta of 0.50. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.28. Fortis has a 52-week low of $43.19 and a 52-week high of $57.25.

Institutional Investors Weigh In On Fortis

A number of hedge funds and other institutional investors have recently bought and sold shares of FTS. JARISLOWSKY FRASER Ltd grew its stake in shares of Fortis by 1.7% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 13,325 shares of the utilities provider’s stock worth $676,000 after purchasing an additional 220 shares during the period. West Family Investments Inc. lifted its stake in shares of Fortis by 4.3% in the third quarter. West Family Investments Inc. now owns 5,443 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 224 shares during the period. Newport Trust Company LLC boosted its holdings in Fortis by 2.8% during the third quarter. Newport Trust Company LLC now owns 9,734 shares of the utilities provider’s stock worth $494,000 after buying an additional 263 shares in the last quarter. Argonautica Private Wealth Management Inc. grew its position in Fortis by 3.5% during the third quarter. Argonautica Private Wealth Management Inc. now owns 7,895 shares of the utilities provider’s stock worth $401,000 after buying an additional 270 shares during the period. Finally, Compound Planning Inc. increased its holdings in Fortis by 6.6% in the third quarter. Compound Planning Inc. now owns 4,536 shares of the utilities provider’s stock valued at $230,000 after buying an additional 281 shares in the last quarter. Institutional investors and hedge funds own 57.77% of the company’s stock.

Fortis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a $0.64 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.5%. Fortis’s payout ratio is 76.64%.

Fortis Company Profile

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.