Raymond James Comments on Fortis’ FY2025 Earnings (NYSE:FTS)

Fortis Inc. (NYSE:FTS) – Investment analysts at Raymond James lowered their FY2025 earnings estimates for shares of Fortis in a research note issued on Tuesday, November 5th. Raymond James analyst D. Quezada now anticipates that the utilities provider will post earnings of $2.39 per share for the year, down from their prior estimate of $2.40. Raymond James currently has a “Market Perform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.33 per share. Raymond James also issued estimates for Fortis’ Q4 2025 earnings at $0.65 EPS.

Fortis (NYSE:FTS) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.26. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.01 billion. Fortis had a return on equity of 7.04% and a net margin of 13.90%. During the same quarter in the previous year, the company posted $0.63 earnings per share.

Other equities research analysts have also issued reports about the company. UBS Group upgraded Fortis to a “strong sell” rating in a research report on Tuesday, September 10th. Bank of America initiated coverage on Fortis in a research note on Friday, September 20th. They issued an “underperform” rating on the stock. Finally, StockNews.com upgraded shares of Fortis from a “sell” rating to a “hold” rating in a research note on Sunday, August 4th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, Fortis currently has a consensus rating of “Reduce”.

Fortis Price Performance

Shares of NYSE:FTS opened at $43.86 on Friday. The stock has a market cap of $21.81 billion, a PE ratio of 18.58, a PEG ratio of 3.87 and a beta of 0.47. Fortis has a 52 week low of $36.86 and a 52 week high of $46.06. The company’s fifty day moving average is $44.45 and its 200 day moving average is $41.92. The company has a quick ratio of 0.58, a current ratio of 0.69 and a debt-to-equity ratio of 1.26.

Fortis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a $0.615 dividend. This represents a $2.46 annualized dividend and a yield of 5.61%. This is a boost from Fortis’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, November 18th. Fortis’s dividend payout ratio (DPR) is presently 72.46%.

Institutional Trading of Fortis

Several large investors have recently added to or reduced their stakes in FTS. Toronto Dominion Bank lifted its position in Fortis by 26.9% during the second quarter. Toronto Dominion Bank now owns 9,071,484 shares of the utilities provider’s stock valued at $352,336,000 after purchasing an additional 1,920,728 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Fortis by 31.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,142,695 shares of the utilities provider’s stock worth $83,259,000 after purchasing an additional 512,103 shares during the period. TD Asset Management Inc increased its stake in shares of Fortis by 2.3% in the second quarter. TD Asset Management Inc now owns 12,151,327 shares of the utilities provider’s stock worth $472,164,000 after purchasing an additional 270,417 shares in the last quarter. Cidel Asset Management Inc. raised its position in shares of Fortis by 42.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 782,827 shares of the utilities provider’s stock valued at $30,418,000 after purchasing an additional 233,743 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Fortis by 1.2% during the first quarter. Vanguard Group Inc. now owns 20,072,102 shares of the utilities provider’s stock valued at $793,049,000 after acquiring an additional 229,972 shares during the period. 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.