Analysts Issue Forecasts for Fortis’ Q1 Earnings (NYSE:FTS)

Fortis Inc. (NYSE:FTS) – Research analysts at Raymond James lifted their Q1 2025 earnings per share estimates for shares of Fortis in a note issued to investors on Thursday, April 17th. Raymond James analyst T. Genzebu now forecasts that the utilities provider will post earnings per share of $0.70 for the quarter, up from their prior estimate of $0.66. The consensus estimate for Fortis’ current full-year earnings is $2.35 per share. Raymond James also issued estimates for Fortis’ Q2 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.66 EPS and FY2025 earnings at $2.43 EPS.

Fortis (NYSE:FTS) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Fortis had a net margin of 14.12% and a return on equity of 7.09%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm posted $0.72 earnings per share.

Separately, Jefferies Financial Group initiated coverage on Fortis in a research report on Thursday, February 13th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, Fortis presently has an average rating of “Hold”.

Fortis Stock Performance

Fortis stock opened at $48.16 on Friday. Fortis has a fifty-two week low of $38.15 and a fifty-two week high of $48.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $24.16 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 3.94 and a beta of 0.46. The firm’s fifty day moving average price is $45.05 and its 200-day moving average price is $43.84.

Fortis Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be paid a dividend of $0.4324 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, May 16th. Fortis’s dividend payout ratio (DPR) is presently 72.03%.

Institutional Investors Weigh In On Fortis

A number of hedge funds have recently made changes to their positions in FTS. Versant Capital Management Inc raised its position in Fortis by 34.1% in the 4th quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 256 shares during the period. JCIC Asset Management Inc. increased its holdings in shares of Fortis by 5.5% in the fourth quarter. JCIC Asset Management Inc. now owns 5,087 shares of the utilities provider’s stock worth $211,000 after buying an additional 267 shares during the period. Code Waechter LLC lifted its stake in shares of Fortis by 1.5% in the 4th quarter. Code Waechter LLC now owns 18,708 shares of the utilities provider’s stock valued at $778,000 after acquiring an additional 277 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Fortis by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,515 shares of the utilities provider’s stock valued at $396,000 after acquiring an additional 277 shares during the period. Finally, Benjamin Edwards Inc. grew its position in Fortis by 4.7% during the 4th quarter. Benjamin Edwards Inc. now owns 6,265 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 282 shares during the last quarter. 57.77% of the stock is currently 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.