What is Scotiabank’s Forecast for Fortis FY2025 Earnings?

Fortis Inc. (TSE:FTS) – Analysts at Scotiabank increased their FY2025 earnings per share (EPS) estimates for shares of Fortis in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will earn $3.35 per share for the year, up from their previous forecast of $3.34. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Several other research firms have also recently weighed in on FTS. Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Bank of America set a C$60.00 price objective on Fortis and gave the company an “underperform” rating in a research report on Friday, September 20th. CIBC lifted their target price on Fortis from C$63.00 to C$64.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, Royal Bank of Canada increased their price target on 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. Three 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 stock has an average rating of “Hold” and an average price target of C$60.89.

Fortis Trading Down 0.8 %

Fortis stock opened at C$58.15 on Monday. Fortis has a 1 year low of C$51.02 and a 1 year high of C$63.75. The firm’s 50 day moving average price is C$61.02 and its 200-day moving average price is C$59.33. The company has a debt-to-equity ratio of 128.59, a current ratio of 0.69 and a quick ratio of 0.36. The stock has a market cap of C$28.80 billion, a P/E ratio of 18.23, a PEG ratio of 3.01 and a beta of 0.23.

Fortis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 5.71%. This is a positive change from Fortis’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, November 18th. Fortis’s dividend payout ratio (DPR) is presently 77.12%.

Insider Transactions at Fortis

In other news, Senior Officer Keri Linda Glitch bought 450 shares of the stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of C$61.41 per share, for a total transaction of C$27,634.59. Following the acquisition, the insider now owns 450 shares of the company’s stock, valued at C$27,634.59. The trade was a ∞ increase in their ownership of the stock. Also, Senior Officer Jocelyn Perry sold 11,809 shares of the company’s 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. Company 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.