What is Scotiabank’s Estimate for Fortis FY2025 Earnings?

Fortis (NYSE:FTS) – Equities researchers at Scotiabank lifted their FY2025 earnings per share (EPS) estimates for shares of Fortis in a research note issued on Friday, January 23rd. Scotiabank analyst R. Hope now forecasts that the utilities provider will post earnings per share of $2.52 for the year, up from their previous estimate of $2.50. 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’ FY2026 earnings at $2.62 EPS and FY2027 earnings at $2.77 EPS.

Fortis (NYSE:FTS) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). Fortis had a return on equity of 7.05% and a net margin of 14.18%.The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.22 billion.

Several other brokerages have also recently commented on FTS. BMO Capital Markets reiterated a “market perform” rating on shares of Fortis in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortis in a research report on Thursday. National Bankshares reissued a “sector perform” rating on shares of Fortis in a research note on Wednesday, November 5th. Finally, CIBC reaffirmed an “outperform” rating on shares of Fortis in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Fortis Price Performance

Shares of NYSE:FTS opened at $52.68 on Monday. The firm has a market cap of $26.73 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 4.78 and a beta of 0.50. The firm has a fifty day moving average price of $51.68 and a 200 day moving average price of $50.58. Fortis has a fifty-two week low of $41.24 and a fifty-two week high of $52.89. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.54 and a current ratio of 0.66.

Institutional Investors Weigh In On Fortis

Several large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in shares of Fortis in the 1st quarter valued at approximately $311,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Fortis by 19.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 565,150 shares of the utilities provider’s stock valued at $25,760,000 after buying an additional 90,776 shares during the period. Assenagon Asset Management S.A. lifted its position in Fortis by 8.7% in the second quarter. Assenagon Asset Management S.A. now owns 18,953 shares of the utilities provider’s stock worth $903,000 after buying an additional 1,517 shares during the last quarter. Fifth Third Bancorp purchased a new position in Fortis during the second quarter worth $65,000. Finally, Signaturefd LLC boosted its stake in Fortis by 8.5% during the second quarter. Signaturefd LLC now owns 35,449 shares of the utilities provider’s stock worth $1,692,000 after buying an additional 2,785 shares during the period. 57.77% of the stock is owned by institutional investors.

Fortis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, February 17th. Fortis’s dividend payout ratio is currently 75.83%.

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.