FY2026 Earnings Forecast for Fortis Issued By Scotiabank

Fortis (NYSE:FTS) – Research analysts at Scotiabank cut their FY2026 earnings per share estimates for Fortis in a research report issued to clients and investors on Thursday, October 1st. Scotiabank analyst R. Hope now anticipates that the utilities provider will post earnings per share of $2.55 for the year, down from their previous forecast of $2.63. Scotiabank currently has a “Sector Perform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.56 per share. Scotiabank also issued estimates for Fortis’ FY2027 earnings at $2.67 EPS.

FTS has been the subject of a number of other reports. Royal Bank Of Canada increased their price objective on shares of Fortis from $80.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. Canadian Imperial Bank of Commerce downgraded shares of Fortis from an “outperform” rating to a “hold” rating in a report on Friday, July 17th. Wolfe Research set a $50.00 price target on Fortis in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortis in a research note on Friday, July 17th. Finally, TD Securities reissued a “buy” rating on shares of Fortis in a research note on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Fortis has a consensus rating of “Hold” and an average price target of $65.00.

Fortis Price Performance

NYSE FTS opened at $52.59 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.47 and a debt-to-equity ratio of 1.27. Fortis has a 12 month low of $49.60 and a 12 month high of $59.40. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 21.29 and a beta of 0.42. The company’s 50 day moving average is $55.07 and its two-hundred day moving average is $56.08.

Fortis (NYSE:FTS) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Fortis had a return on equity of 7.16% and a net margin of 14.17%.During the same period in the previous year, the firm earned $0.76 EPS.

Fortis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were given a C$0.64 dividend. This represents a $2.56 annualized dividend and a yield of 4.9%. The ex-dividend date was Wednesday, August 19th. Fortis’s payout ratio is currently 73.68%.

Institutional Investors Weigh In On Fortis

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Fortis during the 2nd quarter valued at approximately $111,451,000. Quantbot Technologies LP bought a new stake in Fortis in the second quarter worth $3,112,000. Quantinno Capital Management LP lifted its position in Fortis by 37.7% in the first quarter. Quantinno Capital Management LP now owns 333,219 shares of the utilities provider’s stock worth $18,590,000 after buying an additional 91,219 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in Fortis by 39.0% during the first quarter. Hillsdale Investment Management Inc. now owns 1,088,628 shares of the utilities provider’s stock worth $60,720,000 after buying an additional 305,450 shares during the period. Finally, Jupiter Topco LLC purchased a new position in Fortis during the second quarter worth $2,254,000. Hedge funds and other institutional investors own 57.77% of the company’s stock.

About Fortis

Fortis Inc (NYSE: FTS) is a regulated electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador, Canada. Through its operating utilities, the company generates, transmits and distributes electricity and provides natural gas distribution services to residential, commercial and industrial customers.

Fortis operates a portfolio of utility businesses across Canada, the United States and the Caribbean. Its regulated operations include electric utilities in several Canadian provinces, U.S.