National Bank Financial Weighs in on Fortis Q4 Earnings

Fortis Inc. (TSE:FTS) – National Bank Financial issued their Q4 2024 earnings estimates for Fortis in a report issued on Tuesday, January 28th. National Bank Financial analyst P. Kenny anticipates that the company will post earnings per share of $0.82 for the quarter. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Fortis (TSE:FTS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$0.85 EPS for the quarter, topping the consensus estimate of C$0.81 by C$0.04. Fortis had a net margin of 14.35% and a return on equity of 7.44%. During the same period last year, the business earned $0.84 EPS.

FTS has been the topic of several other research reports. Royal Bank of Canada boosted 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 report on Thursday, October 3rd. CIBC boosted their price target on shares of Fortis from C$63.00 to C$64.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$60.89.

Fortis Stock Performance

TSE FTS opened at C$60.98 on Thursday. The company’s 50 day moving average is C$60.86 and its 200-day moving average is C$59.85. Fortis has a 12-month low of C$51.02 and a 12-month high of C$63.75. The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 128.59. The firm has a market cap of C$30.20 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23.

Insiders Place Their Bets

In other news, Director Gary Joseph Smith sold 21,716 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of C$61.45, for a total value of C$1,334,543.75. Also, Senior Officer Jocelyn Perry sold 11,809 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total transaction of C$746,178.83. Corporate insiders own 0.04% of the company’s stock.

Fortis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Fortis’s previous quarterly dividend of $0.59. Fortis’s payout ratio is currently 77.12%.

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.