Desjardins Has Positive Estimate for Fortis FY2025 Earnings

Fortis Inc. (NYSE:FTS) – Stock analysts at Desjardins boosted their FY2025 earnings per share (EPS) estimates for Fortis in a research note issued to investors on Wednesday, May 7th. Desjardins analyst B. Stadler now anticipates that the utilities provider will post earnings per share of $2.46 for the year, up from their prior estimate of $2.44. Desjardins has a “Hold” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Desjardins also issued estimates for Fortis’ Q4 2025 earnings at $0.61 EPS.

Fortis (NYSE:FTS) last released its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Fortis had a net margin of 14.12% and a return on equity of 7.09%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the company earned $0.93 earnings per share.

Several other equities research analysts have also weighed in on FTS. Jefferies Financial Group began coverage on Fortis in a report on Thursday, February 13th. They issued a “hold” rating for the company. Royal Bank of Canada boosted their price target on shares of Fortis from $69.00 to $72.00 and gave the company a “sector perform” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Fortis currently has a consensus rating of “Hold” and a consensus price target of $72.00.

Fortis Price Performance

Shares of NYSE FTS opened at $48.02 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock has a fifty day simple moving average of $46.45 and a two-hundred day simple moving average of $44.32. Fortis has a 1-year low of $38.15 and a 1-year high of $50.06. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 3.94 and a beta of 0.50.

Fortis Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be issued a dividend of $0.4324 per share. This represents a $1.73 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Friday, May 16th. Fortis’s dividend payout ratio (DPR) is presently 71.73%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTS. Norges Bank bought a new stake in Fortis during the fourth quarter valued at $182,242,000. Geode Capital Management LLC boosted its position in shares of Fortis by 77.1% during the 4th quarter. Geode Capital Management LLC now owns 4,257,486 shares of the utilities provider’s stock valued at $180,686,000 after acquiring an additional 1,853,082 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Fortis by 42.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 4,443,333 shares of the utilities provider’s stock worth $184,878,000 after purchasing an additional 1,316,394 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Fortis by 10.9% in the fourth quarter. Toronto Dominion Bank now owns 6,218,116 shares of the utilities provider’s stock worth $258,068,000 after purchasing an additional 612,395 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Fortis by 4.9% in the first quarter. TD Asset Management Inc now owns 12,870,736 shares of the utilities provider’s stock valued at $586,192,000 after purchasing an additional 604,615 shares in the last quarter. 57.77% of the stock is owned by institutional investors.

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.