Fortis Inc. (TSE:FTS – Free Report) – Investment analysts at Raymond James lifted their FY2024 earnings per share estimates for shares of Fortis in a research report issued on Wednesday, May 1st. Raymond James analyst D. Quezada now forecasts that the company will post earnings per share of $3.21 for the year, up from their previous forecast of $3.19. The consensus estimate for Fortis’ current full-year earnings is $3.21 per share. Raymond James also issued estimates for Fortis’ Q4 2024 earnings at $0.85 EPS.
Fortis (TSE:FTS – Get Free Report) last issued its earnings results on Friday, February 9th. The company reported C$0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.72. Fortis had a return on equity of 7.41% and a net margin of 13.66%. The company had revenue of C$2.89 billion for the quarter, compared to analyst estimates of C$3.22 billion.
Check Out Our Latest Stock Report on Fortis
Fortis Stock Up 0.4 %
Shares of TSE FTS opened at C$54.59 on Monday. The company has a debt-to-equity ratio of 128.76, a current ratio of 0.68 and a quick ratio of 0.36. The company has a 50-day moving average price of C$53.19 and a 200-day moving average price of C$54.16. The stock has a market capitalization of C$26.91 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.80 and a beta of 0.17. Fortis has a 1 year low of C$49.82 and a 1 year high of C$62.00.
Insiders Place Their Bets
In other news, Director Brian Slocum acquired 1,888 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average cost of C$39.18 per share, for a total transaction of C$73,971.65. In other news, Director Brian Slocum acquired 1,888 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of C$39.18 per share, with a total value of C$73,971.65. Also, Senior Officer Ronald Hinsley sold 972 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$38.79, for a total transaction of C$37,706.21. Insiders bought a total of 2,851 shares of company stock worth $111,115 over the last three months. 0.04% of the stock is currently owned by company insiders.
Fortis Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Saturday, June 1st will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.32%. The ex-dividend date is Thursday, May 16th. Fortis’s dividend payout ratio is 76.13%.
About Fortis
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.
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