Raymond James Has Negative Outlook of Fortis FY2025 Earnings

Fortis Inc. (NYSE:FTS) – Equities research analysts at Raymond James cut their FY2025 earnings per share estimates for shares of Fortis in a report released on Tuesday, November 5th. Raymond James analyst D. Quezada now anticipates that the utilities provider will earn $2.39 per share for the year, down from their prior forecast of $2.40. Raymond James 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.

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

Fortis Price Performance

NYSE FTS opened at $44.18 on Friday. The company has a 50-day moving average price of $44.45 and a two-hundred day moving average price of $41.97. The stock has a market cap of $21.97 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 3.87 and a beta of 0.47. The company has a current ratio of 0.69, a quick ratio of 0.58 and a debt-to-equity ratio of 1.26. Fortis has a 52 week low of $36.86 and a 52 week high of $46.06.

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

Fortis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Fortis’s previous quarterly dividend of $0.43. Fortis’s payout ratio is currently 72.46%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Fortis by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 489,343 shares of the utilities provider’s stock valued at $19,006,000 after acquiring an additional 21,059 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Fortis by 4.2% during the second quarter. CIBC Asset Management Inc now owns 3,938,001 shares of the utilities provider’s stock worth $152,955,000 after buying an additional 158,178 shares in the last quarter. Fiera Capital Corp grew its position in Fortis by 10.8% in the second quarter. Fiera Capital Corp now owns 858,512 shares of the utilities provider’s stock worth $33,380,000 after buying an additional 83,858 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of Fortis by 163.8% in the third quarter. Intact Investment Management Inc. now owns 227,700 shares of the utilities provider’s stock valued at $10,347,000 after buying an additional 141,400 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Fortis by 11.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 300,509 shares of the utilities provider’s stock valued at $11,803,000 after acquiring an additional 30,103 shares during the last quarter. Institutional investors own 57.77% of the company’s stock.

Fortis Company Profile

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.