Should I buy or sell Fortis stock right now?

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last twelve months. There are currently 1 sell rating, 6 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" FTS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FTS, but not buy additional shares or sell existing shares. View FTS analyst ratings or view top-rated stocks .

What is Fortis' stock price target for 2024?

8 Wall Street analysts have issued 12-month price targets for Fortis' shares. Their FTS share price targets range from C$50.00 to C$62.00. On average, they predict the company's stock price to reach C$57.54 in the next twelve months. This suggests a possible upside of 11.0% from the stock's current price. View analysts price targets for FTS or view top-rated stocks among Wall Street analysts .

How have FTS shares performed in 2024?

Fortis' stock was trading at C$54.51 at the beginning of 2024. Since then, FTS stock has decreased by 4.9% and is now trading at C$51.83. View the best growth stocks for 2024 here .

When is Fortis' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 1st 2024. View our FTS earnings forecast .

How were Fortis' earnings last quarter?

Fortis Inc. (TSE:FTS) released its quarterly earnings results on Friday, February, 9th. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. The business earned $2.89 billion during the quarter, compared to analyst estimates of $3.22 billion. Fortis had a net margin of 13.66% and a trailing twelve-month return on equity of 7.41%.

How often does Fortis pay dividends? What is the dividend yield for Fortis?

Fortis announced a quarterly dividend on Thursday, February 8th. Stockholders of record on Friday, May 17th will be given a dividend of 0.59 per share on Saturday, June 1st. This represents a $2.36 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Thursday, May 16th. Read our dividend analysis for FTS .

Is Fortis a good dividend stock?

Fortis (TSE:FTS) pays an annual dividend of C$2.36 per share and currently has a dividend yield of 4.42%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 76.13%. Payout ratios above 75% are not desirable because they may not be sustainable. Read our dividend analysis for FTS .

What other stocks do shareholders of Fortis own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Fortis investors own include Enbridge (ENB) , Bank of Nova Scotia (BNS) , Royal Bank of Canada (RY) , Toronto-Dominion Bank (TD) , TELUS (T) , BCE (BCE) , Bank of Montreal (BMO) , Emera (EMA) , TC Energy (TRP) and Canadian National Railway (CNR) .

How do I buy shares of Fortis?

Shares of FTS stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor , Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers. Compare Top Brokerages Here .

TSE:FTS

Fortis (FTS) Stock Price, News & Analysis

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Free FTS Stock Alerts

C$51.83

+0.51 (+0.99%)

(As of 04/17/2024 ET)

Compare

Today's Range: C$51.16
▼
C$52.00
50-Day Range: C$51.32
▼
C$54.18
52-Week Range: C$49.82
▼
C$62.00

Volume: 2.66 million shs
Average Volume: 1.53 million shs
Market Capitalization: C$25.55 billion

P/E Ratio: 16.72
Dividend Yield: 4.55%
Price Target: C$57.54

Stock Analysis Analyst Forecasts Chart Competitors Dividend Earnings Headlines Insider Trades

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Fortis MarketRank™ Stock Analysis

Analyst Rating: Hold
2.00 Rating Score
Upside/Downside: 11.0% Upside
C$57.54 Price Target
Short Interest: N/A
Dividend Strength: Weak
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.47
Based on 3 Articles This Week
Insider Trading: Acquiring Shares
C$111,115 Bought Last Quarter
Proj. Earnings Growth: N/A

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

2.28 out of 5 stars

3.0

Analyst's Opinion

Consensus Rating
Fortis has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on 1 buy rating, 6 hold ratings, and 1 sell rating.
Amount of Analyst Coverage
Fortis has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

N/A

Short Interest

Short Interest
There is no current short interest data available for FTS.

1.7

Dividend Strength

Dividend Leadership
Fortis is a leading dividend payer. It pays a dividend yield of 4.42%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Fortis does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Fortis is 76.13%. Payout ratios above 75% are not desirable because they may not be sustainable.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for FTS.

1.4

News and Social Media Coverage

News Sentiment
Fortis has a news sentiment score of 0.47. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Utilities companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Fortis this week, compared to 3 articles on an average week.
Search Interest
Only 21 people have searched for FTS on MarketBeat in the last 30 days. This is a decrease of -34% compared to the previous 30 days.
MarketBeat Follows
Only 2 people have added Fortis to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Fortis insiders have bought 194.69% more of their company's stock than they have sold. Specifically, they have bought C$111,115.00 in company stock and sold C$37,706.00 in company stock.
Percentage Held by Insiders
Only 0.04% of the stock of Fortis is held by insiders.
Percentage Held by Institutions
58.19% of the stock of Fortis is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3

Earnings and Valuation

Price to Earnings Ratio vs. the Market
The P/E ratio of Fortis is 16.72, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 137.12.
Price to Earnings Ratio vs. Sector
The P/E ratio of Fortis is 16.72, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 76.77.
Price to Earnings Growth Ratio
Fortis has a PEG Ratio of 2.80. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Fortis has a P/B Ratio of 1.28. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About Fortis Stock (TSE:FTS)

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. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 592,000 customers in southern and central Alberta; owns four hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW. Additionally, it provides integrated electric utility service to approximately 69,000 customers in Ontario; approximately 275,000 customers in Newfoundland and Labrador; approximately 34,000 customers on Grand Cayman, Cayman Islands; and approximately 17,000 customers on certain islands in Turks and Caicos. It also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 90,500 circuit Kilometers (km) of distribution lines; and approximately 51,600 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

FTS Stock Price History

30 days | 90 days | 365 days | Advanced Chart

FTS Stock News Headlines

April 15, 2024 | msn.com

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April 14, 2024 | americanbankingnews.com

Fortis Inc. (TSE:FTS) Receives Average Recommendation of "Hold" from Analysts

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March 15, 2024 | finance.yahoo.com

FTS Apr 2024 40.000 call

March 14, 2024 | msn.com

Renters have harder time accumulating wealth than homeowners: RBC economist

March 14, 2024 | ca.finance.yahoo.com

Tax changes you need to know about this year, from home offices to house flipping

March 13, 2024 | msn.com

EV maker Fisker’s stock dives after company reportedly explores bankruptcy

March 13, 2024 | ca.finance.yahoo.com

Exclusive-Vista Equity seeks to tap banks for Solera IPO, sources say

March 13, 2024 | ca.finance.yahoo.com

Wells Fargo pushes back its expectation of first Fed rate cut to June

March 13, 2024 | ca.finance.yahoo.com

Bank climate group members to report capital markets emissions

March 11, 2024 | finance.yahoo.com

Fortis and WooCommerce Partner to Expand Capabilities in the $1T B2B Market

March 11, 2024 | ca.finance.yahoo.com

Post Office sees personal cash withdrawals increase by 15% annually in February

March 1, 2024 | finance.yahoo.com

Bullish Fortis Insiders Loaded Up On CA$1.72m Of Stock

February 29, 2024 | msn.com

3 Defensive Stocks That Cautious Investors Can Feel Confident Buying

February 18, 2024 | finance.yahoo.com

FTS Feb 2024 20.000 put

February 16, 2024 | msn.com

Fortis Healthcare Share Price Target 2024

February 14, 2024 | theglobeandmail.com

Closing Bell: Fortis Inc Pref Shares Series F down on Monday (FTS-PR-F)

February 10, 2024 | msn.com

Fortis Inc. 1ST PREF SER M declares $0.2446 dividend

February 9, 2024 | msn.com

Down by 14.54%: Here’s Why Fortis Stock Is a Good Buy in February 2024

February 9, 2024 | seekingalpha.com

Fortis Inc. CUM RD 5Y SR G declares $0.3827 dividend

See More Headlines

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Company Calendar

Last Earnings: 2/09/2024
Ex-Dividend for 3/1 Dividend: 2/15/2024
Dividend Payable: 3/01/2024
Today: 4/17/2024
Next Earnings (Confirmed): 5/01/2024
Ex-Dividend for 6/1 Dividend: 5/16/2024
Dividend Payable: 6/01/2024

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Industry, Sector and Symbol

Stock Exchange: TSE
Sector: Utilities
Industry: Utilities - Regulated Electric
Sub-Industry: N/A
Current Symbol: TSE:FTS
CUSIP: N/A
CIK: N/A
Web: www.fortisinc.com
Phone: +1-709-7372800
Fax: N/A
Employees: 9,598
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: C$57.54
High Stock Price Target: C$62.00
Low Stock Price Target: C$50.00
Potential Upside/Downside: +11.0%
Consensus Rating: Hold
Rating Score (0-4): 2.00
Research Coverage: 8 Analysts

Profitability

EPS (Most Recent Fiscal Year): C$3.10
Trailing P/E Ratio: 16.72
Forward P/E Ratio: 16.14
P/E Growth: 2.8
Net Income: C$1.51 billion
Net Margins: 13.66%
Pretax Margin: N/A
Return on Equity: 7.41%
Return on Assets: 3.02%

Debt

Debt-to-Equity Ratio: 128.76
Current Ratio: 0.68
Quick Ratio: 0.36

Sales & Book Value

Annual Sales: C$11.52 billion
Price / Sales: 2.22
Cash Flow: C$0.79 per share
Price / Cash Flow: 65.80
Book Value: C$40.53 per share
Price / Book: 1.28

Miscellaneous

Outstanding Shares: 493,000,000
Free Float: N/A
Market Cap: C$25.55 billion
Optionable: Not Optionable
Beta: 0.17

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Key Executives

Mr. David Gerard Hutchens (Age 57)
President, CEO & Director
Comp: $4.81M
Ms. Jocelyn H. Perry (Age 53)
Executive VP & CFO
Comp: $1.82M
Mr. Gary J. Smith (Age 62)
Executive Vice President of Operations & Innovation
Comp: $1.55M
Mr. James R. Reid
Executive VP of Sustainability & Chief Legal Officer
Mr. Stuart I. Lochray
Senior Vice President of Capital Markets & Business Development
Mr. Kevin D. Woodbury
Vice President of Innovation & Technology
Mr. Ronald J. Hinsley
Chief Information Officer & VP
Ms. Stephanie A. Amaimo
Vice President of Investor Relations
Ms. Karen M. McCarthy BPR
M.Ed, Vice President of Communications and Government Relations
Ms. Tanya Nicole Finlay
Vice President of People & Culture

Key Competitors

View All Competitors

Insiders

View All Insider Transactions

Should I Buy Fortis Stock? FTS Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Fortis Inc.:

Fortis Inc. has a stable financial performance with a consistent track record of earnings growth, providing investors with a reliable income stream.
The company operates in the electric and gas utility sector, which is known for its stable demand regardless of economic conditions, making it a defensive investment choice.
Fortis Inc. has a diversified geographical presence across Canada, the United States, and the Caribbean countries, reducing the risk associated with operating in a single market.
Recent stock performance indicates resilience with a market capitalization of $18.71 billion, reflecting investor confidence in the company's future prospects.
Fortis Inc. has a healthy dividend yield, making it an attractive option for income-seeking investors looking for steady returns.

Cons

Investors should be bearish about investing in Fortis Inc. for these reasons:

As an electric and gas utility company, Fortis Inc. is subject to regulatory risks and changes in government policies that could impact its operations and profitability.
The company's debt-to-equity ratio of 1.27 indicates a relatively high level of leverage, which may pose risks during economic downturns or rising interest rates.
Fortis Inc. operates in a capital-intensive industry, requiring significant investments in infrastructure and maintenance, which could strain cash flows and limit growth opportunities.
The company's P/E ratio of 16.50 and P/E/G ratio of 2.74 suggest that the stock may be currently overvalued, potentially leading to limited upside for investors in the short term.
While Fortis Inc. has a history of stable performance, the utility sector is generally slow-growing, which may not offer significant capital appreciation potential compared to more dynamic industries.

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, April 11, 2024. Please send any questions or comments about these Fortis pros and cons to contact@marketbeat.com.

FTS Stock Analysis - Frequently Asked Questions

Should I buy or sell Fortis stock right now?: 8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortis in the last twelve months. There are currently 1 sell rating, 6 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" FTS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FTS, but not buy additional shares or sell existing shares.
View FTS analyst ratings or view top-rated stocks.
What is Fortis' stock price target for 2024?: 8 Wall Street analysts have issued 12-month price targets for Fortis' shares. Their FTS share price targets range from C$50.00 to C$62.00. On average, they predict the company's stock price to reach C$57.54 in the next twelve months. This suggests a possible upside of 11.0% from the stock's current price.
View analysts price targets for FTS or view top-rated stocks among Wall Street analysts.
How have FTS shares performed in 2024?: Fortis' stock was trading at C$54.51 at the beginning of 2024. Since then, FTS stock has decreased by 4.9% and is now trading at C$51.83.
View the best growth stocks for 2024 here.
When is Fortis' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 1st 2024.
View our FTS earnings forecast.
How were Fortis' earnings last quarter?: Fortis Inc. (TSE:FTS) released its quarterly earnings results on Friday, February, 9th. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.72. The business earned $2.89 billion during the quarter, compared to analyst estimates of $3.22 billion. Fortis had a net margin of 13.66% and a trailing twelve-month return on equity of 7.41%.

How often does Fortis pay dividends? What is the dividend yield for Fortis?: Fortis announced a quarterly dividend on Thursday, February 8th. Stockholders of record on Friday, May 17th will be given a dividend of 0.59 per share on Saturday, June 1st. This represents a $2.36 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Thursday, May 16th.
Read our dividend analysis for FTS.
Is Fortis a good dividend stock?: Fortis (TSE:FTS) pays an annual dividend of C$2.36 per share and currently has a dividend yield of 4.42%. FTS has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 76.13%. Payout ratios above 75% are not desirable because they may not be sustainable.
Read our dividend analysis for FTS.
What other stocks do shareholders of Fortis own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Fortis investors own include Enbridge (ENB), Bank of Nova Scotia (BNS), Royal Bank of Canada (RY), Toronto-Dominion Bank (TD), TELUS (T), BCE (BCE), Bank of Montreal (BMO), Emera (EMA), TC Energy (TRP) and Canadian National Railway (CNR).
How do I buy shares of Fortis?: Shares of FTS stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
Compare Top Brokerages Here.

This page (TSE:FTS) was last updated on 4/18/2024 by MarketBeat.com Staff

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Fortis (FTS) Stock Price, News & Analysis

Fortis MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Short Interest

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Fortis Stock (TSE:FTS)

FTS Stock Price History

FTS Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders

Should I Buy Fortis Stock? FTS Pros and Cons Explained

Pros

Cons

FTS Stock Analysis - Frequently Asked Questions

Overall MarketRank^™