What is Scotiabank’s Forecast for Fortis FY2026 Earnings?

Fortis (NYSE:FTS) – Analysts at Scotiabank lifted their FY2026 earnings per share (EPS) estimates for Fortis in a research report issued on Thursday, September 10th. Scotiabank analyst R. Hope now anticipates that the utilities provider will post earnings of $2.63 per share for the year, up from their previous estimate of $2.55. Scotiabank currently has a “Sector Perform” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $2.58 per share. Scotiabank also issued estimates for Fortis’ FY2027 earnings at $2.77 EPS.

Fortis (NYSE:FTS) last issued its earnings results on Friday, July 31st. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Fortis had a return on equity of 7.16% and a net margin of 14.17%.During the same period in the prior year, the business posted $0.76 EPS.

FTS has been the topic of several other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortis in a research note on Friday, July 17th. Wolfe Research set a $50.00 price target on shares of Fortis in a research report on Tuesday, August 4th. Royal Bank Of Canada raised their price target on shares of Fortis from $80.00 to $89.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. TD Securities restated a “buy” rating on shares of Fortis in a research report on Tuesday, August 4th. Finally, Barclays lowered their price objective on shares of Fortis from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.33.

Fortis Stock Performance

Shares of FTS stock opened at $54.11 on Monday. The company has a market capitalization of $27.79 billion, a P/E ratio of 21.91 and a beta of 0.42. Fortis has a fifty-two week low of $48.69 and a fifty-two week high of $59.40. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.47 and a current ratio of 0.56. The stock has a 50 day moving average price of $56.47 and a two-hundred day moving average price of $56.54.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Fortis’s dividend payout ratio is presently 73.68%.

Institutional Trading of Fortis

Several institutional investors and hedge funds have recently bought and sold shares of FTS. Addison Capital Co boosted its holdings in Fortis by 0.9% in the first quarter. Addison Capital Co now owns 32,797 shares of the utilities provider’s stock worth $1,830,000 after acquiring an additional 289 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Fortis by 10.9% during the first quarter. PNC Financial Services Group Inc. now owns 3,121 shares of the utilities provider’s stock valued at $174,000 after acquiring an additional 308 shares in the last quarter. Syon Capital LLC increased its holdings in shares of Fortis by 3.8% during the second quarter. Syon Capital LLC now owns 8,714 shares of the utilities provider’s stock valued at $499,000 after acquiring an additional 316 shares in the last quarter. J. Safra Sarasin Holding AG raised its position in shares of Fortis by 4.8% in the 1st quarter. J. Safra Sarasin Holding AG now owns 7,110 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 326 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Fortis by 13.1% in the 1st quarter. Parallel Advisors LLC now owns 2,826 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 327 shares during the last quarter. 57.77% of the stock is currently owned by hedge funds and other institutional investors.

Fortis Company Profile

Fortis Inc is a Canadian investor-owned utility company headquartered in St. John’s, Newfoundland and Labrador. Through its regulated utility subsidiaries, the company provides electricity and natural gas services to residential, commercial and industrial customers.

Fortis operates electric transmission and distribution networks, natural gas distribution systems, and power generation assets. Its businesses include FortisBC in British Columbia, Newfoundland Power and Maritime Electric in Atlantic Canada, as well as utilities in the United States, including Central Hudson, UNS Energy and ITC.