National Bank Financial Comments on Fortis FY2028 Earnings

Fortis Inc. (TSE:FTS) – Equities researchers at National Bank Financial issued their FY2028 earnings per share estimates for Fortis in a research report issued on Monday, January 6th. National Bank Financial analyst P. Kenny anticipates 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.

A number of other research firms have also commented on FTS. Bank of America set a C$60.00 price target on shares of Fortis and gave the company an “underperform” rating in a research report on Friday, September 20th. Raymond James downgraded Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. CIBC raised their price target on Fortis from C$63.00 to C$64.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on Fortis from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$60.89.

Fortis Stock Up 0.5 %

Shares of TSE:FTS opened at C$60.36 on Wednesday. The company’s fifty day moving average is C$61.09 and its 200-day moving average is C$59.17. The company has a debt-to-equity ratio of 128.59, a quick ratio of 0.36 and a current ratio of 0.69. Fortis has a 52 week low of C$51.02 and a 52 week high of C$63.75. The company has a market capitalization of C$29.89 billion, a PE ratio of 18.92, a P/E/G ratio of 3.01 and a beta of 0.23.

Fortis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st were issued a dividend of $0.83 per share. This is a boost from Fortis’s previous quarterly dividend of $0.59. This represents a $3.32 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend was Monday, November 18th. Fortis’s payout ratio is currently 77.12%.

Insiders Place Their Bets

In other Fortis news, Director Gary Joseph Smith sold 21,716 shares of Fortis 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 Keri Linda Glitch bought 450 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of C$61.41 per share, with a total value of C$27,634.59. Following the completion of the purchase, the insider now directly owns 450 shares of the company’s stock, valued at C$27,634.59. This represents a ∞ increase in their position. 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.