Fortis FY2025 EPS Increased by Raymond James Financial

Fortis Inc. (TSE:FTS) – Raymond James Financial boosted their FY2025 earnings per share estimates for Fortis in a note issued to investors on Tuesday, July 22nd. Raymond James Financial analyst T. Genzebu now expects that the company will earn $3.49 per share for the year, up from their previous estimate of $3.40. Raymond James Financial currently has a “Moderate Buy” rating on the stock. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

A number of other brokerages have also recently commented on FTS. Royal Bank Of Canada upped their price target on shares of Fortis from C$69.00 to C$72.00 and gave the company a “sector perform” rating in a research report on Thursday, May 8th. CIBC raised their target price on Fortis from C$68.00 to C$69.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Cibc World Mkts upgraded Fortis from a “hold” rating to a “strong-buy” rating in a report on Monday. Scotiabank boosted their price target on shares of Fortis from C$66.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Thursday, May 8th. Finally, TD Securities set a C$74.00 target price on shares of Fortis and gave the stock a “buy” rating in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$65.14.

Fortis Trading Down 0.7%

Shares of FTS stock opened at C$66.30 on Thursday. The stock’s fifty day simple moving average is C$65.27 and its 200 day simple moving average is C$64.28. The firm has a market capitalization of C$32.80 billion, a P/E ratio of 19.68, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a twelve month low of C$55.59 and a twelve month high of C$69.24. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31.

Fortis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Sunday, June 1st were paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 3.71%. The ex-dividend date was Friday, May 16th. Fortis’s dividend payout ratio (DPR) is 73.02%.

About Fortis

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.