Brokers Set Expectations for Fortis’ Q4 Earnings (TSE:FTS)

Fortis Inc. (TSE:FTS) – Equities research analysts at National Bank Financial issued their Q4 2024 EPS estimates for shares of Fortis in a research note issued on Tuesday, January 28th. National Bank Financial analyst P. Kenny expects 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 brokerages have also weighed in on FTS. CIBC raised their target price on Fortis from C$63.00 to C$64.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their target price on shares of 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. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$60.89.

Fortis Trading Up 1.6 %

Shares of FTS opened at C$61.94 on Thursday. The company has a debt-to-equity ratio of 128.59, a quick ratio of 0.36 and a current ratio of 0.69. The company has a market cap of C$30.67 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 3.01 and a beta of 0.23. The stock has a fifty day moving average price of C$60.83 and a two-hundred day moving average price of C$59.91. Fortis has a 52-week low of C$51.02 and a 52-week high of C$63.75.

Fortis (TSE:FTS) last posted its earnings results on Tuesday, November 5th. The company reported C$0.85 earnings per share (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 period in the previous year, the company earned $0.84 earnings per share.

Fortis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st were paid a $0.83 dividend. The ex-dividend date was Monday, November 18th. This is a boost from Fortis’s previous quarterly dividend of $0.59. This represents a $3.32 dividend on an annualized basis and a yield of 5.36%. Fortis’s dividend payout ratio (DPR) is presently 77.12%.

Insiders Place Their Bets

In other Fortis news, Senior Officer Jocelyn Perry sold 11,809 shares of the firm’s stock in a transaction dated 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, Director Gary Joseph Smith sold 21,716 shares of the company’s stock in a transaction dated 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. Company insiders own 0.04% of the company’s stock.

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.