Fortis Inc. (NYSE:FTS) – Research analysts at National Bank Financial issued their FY2019 earnings per share estimates for Fortis in a report released on Monday. National Bank Financial analyst P. Kenny expects that the utilities provider will post earnings of $2.19 per share for the year. National Bank Financial has a “Underperform” rating on the stock. National Bank Financial also issued estimates for Fortis’ FY2022 earnings at $2.28 EPS.

FTS has been the subject of a number of other research reports. Zacks Investment Research lowered Fortis from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Raymond James Financial raised Fortis from a “market perform” rating to an “outperform” rating in a report on Friday. UBS Group raised Fortis from a “market perform” rating to an “outperform” rating in a report on Friday. Finally, Scotiabank reaffirmed a “buy” rating and set a $51.00 target price on shares of Fortis in a report on Monday, December 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Fortis has an average rating of “Hold” and an average target price of $42.33.

Shares of Fortis (NYSE:FTS) traded down $0.32 during midday trading on Tuesday, reaching $32.37. The company’s stock had a trading volume of 204,077 shares, compared to its average volume of 323,103. Fortis has a 12-month low of $31.27 and a 12-month high of $38.24. The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 1.31. The firm has a market cap of $13,898.04, a price-to-earnings ratio of 17.12, a PEG ratio of 2.96 and a beta of -1.44.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.3353 per share. This represents a $1.34 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, February 14th. Fortis’s dividend payout ratio is presently 70.16%.

A number of large investors have recently added to or reduced their stakes in the business. Icon Wealth Partners LLC bought a new position in Fortis during the 4th quarter worth approximately $261,000. Mackenzie Financial Corp lifted its holdings in Fortis by 374.7% during the 4th quarter. Mackenzie Financial Corp now owns 10,085,092 shares of the utilities provider’s stock worth $369,820,000 after buying an additional 7,960,616 shares during the last quarter. Capital Analysts LLC lifted its holdings in Fortis by 641.8% during the 4th quarter. Capital Analysts LLC now owns 2,856 shares of the utilities provider’s stock worth $190,000 after buying an additional 2,471 shares during the last quarter. Timber Hill LLC bought a new position in Fortis during the 4th quarter worth approximately $892,000. Finally, American International Group Inc. bought a new position in Fortis during the 4th quarter worth approximately $314,000. 49.57% of the stock is currently owned by institutional investors.

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Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.

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