National Bank Financial Comments on Fortis FY2028 Earnings

Fortis Inc. (TSE:FTS) – Analysts at National Bank Financial issued their FY2028 earnings per share estimates for shares of Fortis in a research report issued to clients and investors on Monday, January 6th. National Bank Financial analyst P. Kenny expects that the company will earn $4.00 per share for the year. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

FTS has been the subject of several other reports. Royal Bank of Canada lifted their price target on shares of Fortis from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Thursday, October 3rd. Bank of America set a C$60.00 target price on Fortis and gave the company an “underperform” rating in a research note on Friday, September 20th. UBS Group raised Fortis to a “strong sell” rating in a research note on Tuesday, September 10th. Finally, Raymond James cut Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$60.33.

Fortis Stock Performance

TSE:FTS opened at C$60.03 on Wednesday. The firm has a market capitalization of C$29.73 billion, a P/E ratio of 18.82, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a twelve month low of C$51.02 and a twelve month high of C$63.75. The company has a fifty day moving average of C$61.09 and a 200-day moving average of C$59.12. The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 128.59.

Fortis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Fortis’s previous quarterly dividend of $0.59. This represents a $3.32 annualized dividend and a yield of 5.53%. Fortis’s dividend payout ratio (DPR) is 77.12%.

Insiders Place Their Bets

In related news, Senior Officer Jocelyn Perry sold 11,809 shares of Fortis stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total transaction of C$746,178.83. Also, Senior Officer Keri Linda Glitch purchased 450 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of C$61.41 per share, for a total transaction of C$27,634.59. Following the completion of the acquisition, the insider now directly owns 450 shares in the company, valued at C$27,634.59. The trade was a ∞ increase in their position. Insiders own 0.04% of the company’s stock.

Fortis Company Profile

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.