What is Scotiabank’s Estimate for Fortis FY2026 Earnings?

Fortis (NYSE:FTS) – Research analysts at Scotiabank lowered their FY2026 earnings per share estimates for shares of Fortis in a research note issued to investors on Tuesday, July 7th. 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 estimate of $2.63. The consensus estimate for Fortis’ current full-year earnings is $2.64 per share. Scotiabank also issued estimates for Fortis’ FY2027 earnings at $2.69 EPS.

Fortis (NYSE:FTS) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Fortis had a return on equity of 7.25% and a net margin of 14.21%.The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the firm posted $1.00 EPS.

FTS has been the subject of a number of other research reports. TD Securities reissued a “buy” rating on shares of Fortis in a report on Thursday, May 7th. Barclays dropped their price target on shares of Fortis from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. BMO Capital Markets reissued a “market perform” rating on shares of Fortis in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Fortis in a research note on Monday, April 20th. Finally, Wall Street Zen cut Fortis from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Fortis Trading Up 1.1%

FTS stock opened at $57.52 on Wednesday. Fortis has a 52 week low of $46.46 and a 52 week high of $58.78. The company has a market capitalization of $29.29 billion, a PE ratio of 23.38 and a beta of 0.43. The company’s 50-day simple moving average is $56.39 and its 200 day simple moving average is $55.44. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.41 and a current ratio of 0.49.

Institutional Investors Weigh In On Fortis

A number of large investors have recently modified their holdings of the business. Norges Bank bought a new position in Fortis in the fourth quarter valued at about $335,980,000. FIL Ltd grew its holdings in shares of Fortis by 9.1% during the fourth quarter. FIL Ltd now owns 19,898,613 shares of the utilities provider’s stock worth $1,034,545,000 after purchasing an additional 1,666,481 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Fortis by 4.6% in the first quarter. Royal Bank of Canada now owns 35,241,451 shares of the utilities provider’s stock valued at $1,966,121,000 after buying an additional 1,557,443 shares during the period. Assenagon Asset Management S.A. raised its holdings in Fortis by 4,662.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 986,548 shares of the utilities provider’s stock valued at $51,244,000 after buying an additional 965,833 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Fortis by 60.7% during the 3rd quarter. Bank of America Corp DE now owns 2,508,277 shares of the utilities provider’s stock worth $127,270,000 after buying an additional 947,079 shares during the period. Institutional investors and hedge funds own 57.77% of the company’s stock.

About Fortis

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.