Scotiabank Has Bullish Outlook for Fortis FY2026 Earnings

Fortis (NYSE:FTS) – Analysts at Scotiabank upped their FY2026 earnings per share estimates for shares of Fortis in a research report issued on Thursday, February 19th. Scotiabank analyst R. Hope now expects that the utilities provider will earn $2.65 per share for the year, up from their previous forecast of $2.62. Scotiabank has a “Sector Perform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Scotiabank also issued estimates for Fortis’ FY2027 earnings at $2.81 EPS.

Fortis (NYSE:FTS) last announced its quarterly earnings data on Thursday, February 12th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. Fortis had a return on equity of 7.24% and a net margin of 14.24%.The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the business posted $0.83 EPS.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets restated a “market perform” rating on shares of Fortis in a report on Friday, February 13th. Wall Street Zen lowered Fortis from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Fortis in a report on Friday, February 13th. TD Securities reiterated a “buy” rating on shares of Fortis in a report on Tuesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fortis in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Fortis Stock Up 0.2%

Shares of NYSE:FTS opened at $56.46 on Friday. Fortis has a fifty-two week low of $43.19 and a fifty-two week high of $57.25. The firm’s 50 day moving average price is $52.92 and its 200 day moving average price is $51.41. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.28. The stock has a market cap of $28.64 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 4.30 and a beta of 0.50.

Institutional Investors Weigh In On Fortis

Several large investors have recently modified their holdings of FTS. JARISLOWSKY FRASER Ltd increased its holdings in shares of Fortis by 1.7% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 13,325 shares of the utilities provider’s stock valued at $676,000 after acquiring an additional 220 shares during the period. West Family Investments Inc. grew its position in Fortis by 4.3% during the 3rd quarter. West Family Investments Inc. now owns 5,443 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 224 shares during the last quarter. Newport Trust Company LLC increased its stake in Fortis by 2.8% in the third quarter. Newport Trust Company LLC now owns 9,734 shares of the utilities provider’s stock valued at $494,000 after purchasing an additional 263 shares during the period. Argonautica Private Wealth Management Inc. raised its holdings in shares of Fortis by 3.5% in the third quarter. Argonautica Private Wealth Management Inc. now owns 7,895 shares of the utilities provider’s stock valued at $401,000 after buying an additional 270 shares during the last quarter. Finally, Compound Planning Inc. boosted its stake in shares of Fortis by 6.6% during the third quarter. Compound Planning Inc. now owns 4,536 shares of the utilities provider’s stock worth $230,000 after buying an additional 281 shares during the period. 57.77% of the stock is owned by institutional investors and hedge funds.

Fortis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, May 15th. Fortis’s dividend payout ratio (DPR) is currently 76.64%.

Fortis Company Profile

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.