National Bank Financial Weighs in on Fortis Q4 Earnings

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

A number of other equities research analysts have also commented on FTS. CIBC upped their price target on shares of Fortis from C$63.00 to C$64.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Raymond James lowered shares of Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price objective on shares of Fortis from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$60.89.

Fortis Trading Down 0.8 %

TSE:FTS opened at C$60.98 on Thursday. The company has a fifty day moving average of C$60.86 and a 200 day moving average of C$59.85. Fortis has a 52 week low of C$51.02 and a 52 week 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 capitalization of C$30.20 billion, a P/E ratio of 19.12, a P/E/G ratio of 3.01 and a beta of 0.23.

Fortis (TSE:FTS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported C$0.85 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company posted $0.84 earnings per share.

Insider Transactions at Fortis

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

Fortis Increases Dividend

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

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.