Seeking Alpha • Jun 10

Fortis: The Buy Case For A Low-Risk Utility With Strong Earnings Visibility

Summary Fortis manages $75 billion in regulated assets and is committed to driving sustainable, steady growth through a $26 billion capital investment plan by 2029. Q1 2025 results highlight strong cash flow, robust rate base growth, and continued dividend increases, reinforcing Fortis’ low-risk, long-term appeal. The stock trades at a premium valuation, justified by its consistent performance and secure profile, making it attractive for long-term investors. While some risks exist and guru sentiment is mixed, FTS remains a solid choice for those seeking stability, steady growth, and reliable income. Read the full article on Seeking Alpha

Seeking Alpha • Dec 05

Behind The Billions: Fortis' Ambitious Vision For 2029

Summary Fortis Inc. is a major Canadian utility company expanding into clean energy with a CA$26 billion capital plan, focusing on regulated assets. Recent financials show growth in revenue and net earnings, driven by rate-based expansion and new customer rates, particularly in the U.S. Fortis has a strong dividend history with 51 consecutive years of increases and plans for 4-6% annual growth through 2029. Potential risks include regulatory challenges, execution risks of the capital plan, and sensitivity to interest rate changes, but long-term prospects remain strong. I am an investment analyst who provides insights on income and investment opportunities. Read the full article on Seeking Alpha

Seeking Alpha • Aug 22

Fortis: 'Hold' Despite The Outperformance

Summary Fortis has historically underperformed the market due to high valuation, but recent performance has been positive. The company's stability, growth, and dividend history make it an attractive investment for conservative returns. Despite positive aspects, Fortis stock is currently overvalued and not recommended for further investment at this time. Read the full article on Seeking Alpha

Seeking Alpha • Jun 06

Fortis: A Look At The Valuation On This Dividend Aristocrat

Summary Fortis has been delivering steady dividend growth for 5 decades. The stock has been on our watch list for a long time but has continuously eluded our buy points. We look at the recent results and update our thesis. Read the full article on Seeking Alpha

Seeking Alpha • Mar 27

Fortis: The Sub-Par Performance Continues Due To Valuation

Summary Fortis stock has underperformed and is unlikely to have high market-outperforming returns in the future. The company's stable operations and clear pathway for U.S. transmission upside make it an attractive investment. Fortis has a strong commitment to reducing emissions and a planned capital plan focused on smaller projects and clean energy solutions. Read the full article on Seeking Alpha

Seeking Alpha • Jan 10

Fortis: Preferred Shares Deliver Yield And Outperform Common

Summary On our last update, we gave a buy rating to the preferred shares for Fortis and stuck with a hold for the common. The company had a strong Q3 2023, beating consensus estimates with EPS of 84 cents, driven by regulatory approvals and favorable exchange rates. We examine the bull case today for both the common and the preferred shares. Read the full article on Seeking Alpha

Seeking Alpha • Nov 06

Fortis: An Update On One Of The Larger Canadian Utilities, Maintain 'Hold'

Summary Fortis is a regulated utility company with solid fundamentals and a track record of dividend increases for 50 consecutive years. FTS's valuation is currently high, trading at an 18.9x P/E ratio, which is considered expensive for a utility. Analysts have mixed opinions on the stock, with most rating it as a "hold" and only one analyst rating it as a "buy". I say this one is a "HOLD". Read the full article on Seeking Alpha

Seeking Alpha • Aug 23

Fortis: 8-9% Yielding Preferred Shares Offer A Lower Risk Prospect Vs. Common Shares

Summary Fortis delivered strong Q2/23 results, with adjusted earnings per share slightly above consensus and a 14% increase year to date. The company has big capital expenditure plans for the next five years, supported by investment grade ratings and predictable cash flow. We examine the valuation and make a case for the preferred shares over the common. Read the full article on Seeking Alpha

Seeking Alpha • Jun 06

Fortis: A Stable High-Yielding Utility That Is Too Expensive

Summary Fortis Inc. is one of the few utilities that has operations in multiple countries, but it still has many of the characteristics that investors appreciate in these companies. The company has remarkably stable cash flows regardless of economic conditions along with growth over time. The company is positioned to continue growing for the near future, and investors can expect an 8% to 10% average total return over the next five years. The company is very well financed relative to its peers and its 3.91% yield appears sustainable. Fortis looks a bit expensive relative to its peers, but that could improve in the near future. Read the full article on Seeking Alpha

Seeking Alpha • Feb 09

Fortis Q4 Earnings Preview

Fortis (NYSE:FTS) is scheduled to announce Q4 earnings results on Friday, February 10th, before market open. The consensus EPS Estimate is $0.53 (-15.9% Y/Y) and the consensus Revenue Estimate is $1.94B Over the last 2 years, FTS has beaten EPS estimates 100% of the time and has beaten revenue estimates 38% of the time. Over the last 3 months, EPS estimates have seen 6 upward revisions and 4 downward. Revenue estimates have seen 1 upward revisions and 2 downward

Seeking Alpha • Jan 17

Fortis: A Dividend King In The Making

Summary 49 years of consecutive dividend increases are rare and Fortis has accomplished just that. The diversified utility has a lot to boast about including great execution and an A-rating from S&P. What it cannot boast about today, though, is the valuation. All values are in CAD unless noted otherwise. 49 years, that's how many consecutive dividend increases Fortis Inc. (FTS) (FTS:CA) has had. November 2022 Presentation This includes a few years when this dividend aristocrat operated under the name, Newfoundland Light & Power Co. Limited. Headquartered in Canada, Fortis is a regulated electric and gas utility company with customers across North America and the Caribbean. As at October 31, 2022, the company's footprint looked like this. November 2022 Presentation Over 60% of its assets are located in the US, and expectedly the foreign operations also contribute more than 50% of its revenue. November 2022 Presentation Overall, most of its assets pertain to energy transmission and distribution. Fortis operates via independent utility businesses covering its various operational locations, with each business unit operating as a substantially autonomous entity. Emera Incorporated (EMA:CA) (EMRAF) is another Canadian utility we recently covered and found too rich for our value conscious taste. Our current protagonist has gone toe to toe with Emera in terms of total returns over the last decade. Data by YCharts This despite offering a comparatively lower dividend yield. Besides the expensive valuation, we did not like the high payout ratio and high debt load in Emera's case. Let us explore Fortis and see where it stands vis a vis its compatriot in our books. Q3-2022 Fortis delivered a solid third quarter for 2022 with adjusted earnings per share of 71 cents coming above estimates. The bulk of the beat came from the US side of operations and the weak Canadian dollar certainly helped. For the year, the company should earn about $2.75 a share and this should create a 6% growth rate, year over year. Company's Outlook Fortis rolled forward its 5-year outlook as 2022 was dropped off and 2027 was entered into the equation. Spending plans are about 11.5% higher for this period than the previous one. November 2022 Presentation The bulk of this is regulated utility growth with Forex boosting total amounts by $0.5 billion. Cleaner energy will make up about 25% of total spend. November 2022 Presentation Fortis sees this supportive of an annual base rate growth of 6.2% per annum over the next 5 years. November 2022 Presentation The same growth should allow a solid growth mantle for the dividend. November 2022 Presentation With a 4% current yield and at least 4% growth for the near future, the company looks like a delight to income investors who want predictable results. But does the entire case make sense? Valuation And Risks Fortis trades at 20.3X 2022 earnings per share. That number is hardly cheap in the best of times, let alone one where rates are rising rapidly. But in Fortis' defense, the company has historically traded on the expensive side and the market has been happy to extend it the credit for solid execution. Data by YCharts Most of the time when valuations reset, the pressure comes from either company faltering in some way, or via a recession. On the first front, Fortis has a solid plan to not issue any dilutive equity over the next 5 years. Equity issuance will be limited to the DRIP plan.

Seeking Alpha • Nov 08

Fortis Warrants A Valuation Update After A 14% Drop - Close To A 'Buy'

Summary In this article, I'm going to be providing a fresh look at Fortis, following an underperforming 14% drop in the company since my last article. Fortis is by no means a "small risky player" - it's one of the largest utilities in all of Canada, albeit one that trades at a typical huge premium. Since my last article, the company has dropped enough to where bullishness might be warranted under certain circumstances. Let's take a look. Dear readers/Followers, Looking at Fortis (FTS) becomes a play on overvaluation - at least it has been for the past few months or so. This is a very qualitative company, but one with issues in so far as the asked price for the respective cash flows go. I wouldn't "BUY" the company at the prices we've seen previously, but I might be interested as we drop down more and more. My previous PT for the company going by my last article was $48/share. Let's see if this latest update warrants any change or shift. Updating on Fortis Fortis needs no further introduction on my part. It's an absolutely solid near-dividend king with 49 consecutive years of dividend increases, boasting a $31B mid-year rate base and having delivered 20+ years of superior growth returns. In this, the company does not materially differ from many solid utilities, perhaps except for the fact that, unlike many European peers, it doesn't share the same exposure to the current macro. This is of course a positive. The second positive that needs to be mentioned is how absolutely, ridiculously stable this company actually is. It's stable enough that analysts, for the past 10 years, have never missed forecast by more than 3-5% in either direction, making it flawless with a 10% margin of error here. However, this sort of quality tends to come at a price - and that's also why we have such a usual premium for the business. With 10 solid regulated businesses under its wing and 3.4M combined customers, at a 99% regulated ratio with a $26B market cap, this business is as solid as it gets. It won't make you rich - at least not in the short term. But at the right price, it can definitely make you "safe". Recent results and trends put this into focus. The company's focus is razor-sharp upon things like cost control, and keeping this below rates of inflation, as well as keeping the company's grid reliability at top metrics. The company has consequently outperformed here. FTS IR (FTS IR) And, of course, as any conservative utility should, it shines over the long term. The 10-year average CAGR is around 11.3%, compared to 8.8% from the S&P and around 100 bps less from the closest peers. The company never lags peers, but only lags the market in the short, 3-year term. The other current company focus is net-zero - and Fortis has set a target of 2050, with a 2032 complete independence from coal - and this is with the updated geopolitical backdrop. Fortis IR (Fortis IR) Aside from ESG and cost control, the company's plan focuses on a low-risk rate base growth with 6.2% CAGR until 2027 fiscal. This 5-year plan will cost the company around $22.3B worth of CapEx and is around $2B increase from the previous plan, which went to 2026E. This equates to an annual capital spending of around $4.4B, of which 83% is smaller projects. In accordance with the company's capitalization and debt, this is highly executable. The plan focuses, above all, on three of the company's largest utilities. Fortis IR (Fortis IR) In terms of funding, the company won't need to tap equity at all to fund its plan - instead managing to fund it to 57% from operational cash flow, 33% from net debt, and a 10% DRIP financing. IG-rating will be maintained during the expansion as well. In short, the plan is about connecting more renewables, building more renewable, sourcing alternatives to reduce Co2, replacing legacy assets, harden and preparing the grid for electrification. The company forecasts that all of these strategies and approaches will enable Fortis to grow the annual dividend by 4-6% going forward until 2027, turning the company into a dividend king and beyond. As always when looking at regulated players, the regulators and relevant regulations/base rates should be looked at and understood. I believe it to be a fair assessment overall that based on the current socioeconomic environment and flows, companies have a much harder time getting their demands heeded by regulators. We saw it for Pinnacle West Capital (PNW), and we've seen it in Europe as well. Fortis is seeing some of these flows as well. Regulators are denying capital structure complaints, and eliminating certain adders, and I believe it should be understood that increases going forward may be less than stakeholders and investors hope for and expect. Regulators need to protect their customers from "too high" increases, and the easiest way for them to do so is to pressure companies to give up portions of their margins - at least some of them. However, this does not make Fortis a bad or uninteresting investment in the least - it does mean though that we may want to expect slightly less from the company going forward than we've traditionally expected. This is also part of the reason why the company is trading southward, rather than north. With hundreds of billions slated for investment in energy and climate, Fortis may be one of the primary beneficiaries of the climate portion of the inflation reduction act - or at least a company that will certainly enjoy advantages from it. News in the earnings calls, including the most recent ones, centered mostly on the lake Erie cancellation - which makes sense. I believe, however, that the company's choice here was very prudent. The expected RoR and the current circumstances were no longer in line with expectations - and Fortis showed the quality that a company in their situation needs to show when the math no longer "works out". All in all, Fortis remains safe. Fortis remains sound. Fortis remains profitable - but we do need to consider the valuation. Fortis Valuation Fortis remains at a massive premium compared to where other companies trade. While the picture is that the company has dropped in the last few months, the fact is that on a broader picture, the valuation isn't as enticing as we might be looking for after all. FTS Valuation (F.A.S.T graphs) Despite dropping 10%+ or so since my last piece, the company still cannot in good conscience be said to be "cheap". Current trends see FTS trading close to 19.3x P/E, and this is still a bit much for a utility, no matter how good the company is. However, at the same time, it would be completely wrong for me to ignore Fortis at a valuation that's essentially the low point we've seen since COVID-19. Yes, the business was cheaper in 2017-2018, but there were reasons for this. And like it or not, the premium is actually fairly well established at this point. Fortis is a 4.3%-yielding utility with superb A-quality in a market where utilities don't seldom yield twice as much, but at a somewhat different risk "cost" or risk/reward-relationship If you want to "BUY" Fortis here, you need to accept the company's 19-20x P/E premium, despite the company only growing around mid-single digits over the coming few years. If you're willing to set a 5-6% growing company at a 19-20x P/E premium, then your RoR could be close to 10.5% annually, or 24% until 2024E. Fortis Upside (F.A.S.T graphs) Is it bad? No. Is it great? No, not really. Is it market-beating? Yes, potentially. So while not the best opportunity to "park" cash, I believe Fortis at this price is starting to look as an opportunity that could generate alpha at a substantial amount of relative safety. Consider for a moment what has happened with many of the Russian/Ukraine-impacted utilities, and you can see how some of these businesses can really "shake", but as you can see from the history, that does not mean it has always-low volatility. While any time this company was bought at 21-22X P/E or above during the last 20 years, your long-term returns over time would have been less than 5-6% including dividends - the fact remains that once you start buying at below 20x P/E, historical records change to show potential RoR of closer to 8-9%, or even double digits depending on where you look at. Specifically, I revised my previous target for Fortis, by accepting a higher-end P/E multiple of around 19x. If you bought the company at 15-19X P/E, that minimum RoR goes up to between 7.5-15% annually, including dividends. So I'm willing now to extend my "BUY" range up to 19x P/E for the company, which is closer to the company's 5-year average here. So a 19.3x P/E? That's hovering very close to what I would consider acceptable here. You only need to adjust forecasts slightly, or have the company beat estimates a little to make that 19.3x into a 19x. What I mean is that it's within the margin of error, and that Fortis can indeed be bought here - if you're willing to accept only a bare-one 10% or high 9% conservative annual RoR. S&P Global analysts still have a hard time accepting my stance of "overvaluation" for Fortis. While the average is finally down below $60/share, 17 analysts give the company an average of $55.5 per share, which is still more than I would be willing to accept, considering Fortis around 5% undervalued here. Despite that though, out of 17 analysts, only 2 consider the company a "BUY", revealing how unconvinced some of these analysts are by their own targets and the current market.

Seeking Alpha • Oct 27

Fortis Q3 2022 Earnings Preview

Fortis (NYSE:FTS) is scheduled to announce Q3 earnings results on Friday, October 28th, before market open. The consensus EPS Estimate is $0.50 (-21.9% Y/Y) and the consensus Revenue Estimate is $1.76B. Over the last 2 years, FTS has beaten EPS estimates 100% of the time and has beaten revenue estimates 38% of the time. Over the last 3 months, EPS estimates have seen 1 upward revision and 9 downward. Revenue estimates have seen 0 upward revisions and 1 downward.

Seeking Alpha • Sep 28

Fortis raises dividend 5.6% to CAD 0.565/share

Fortis (NYSE:FTS) declares CAD 0.565/share quarterly dividend, 5.6% increase from prior dividend of CAD 0.535. Forward yield 4.14% Payable Dec. 1; for shareholders of record Nov. 17; ex-div Nov. 16. See FTS Dividend Scorecard, Yield Chart, & Dividend Growth.

총 주주 수익률	3.2%
미래 배당 수익률	3.7%
배당 성장률	5.7%
다음 배당 지급일	01 Jun 26
배당락일	15 May 26
주당 배당금	n/a
배당 성향	74%

구분	배당 수익률
회사 (FTS)	3.3%
시장 하위 25% (US)	1.4%
시장 상위 25% (US)	4.2%
업계 평균 (Electric Utilities)	2.7%
분석가 예측 (FTS) (최대 3년)	3.7%

데이터	최종 업데이트 (UTC 시간)
기업 분석	2026/05/07 03:44
종가	2026/05/07 00:00
수익	2026/03/31
연간 수익	2025/12/31

패키지	데이터	기간	미국 소스 예시 ^*
기업 재무제표	10년	손익계산서 현금흐름표 대차대조표	SEC 양식 10-K SEC 양식 10-Q
분석가 컨센서스 추정치	+3년	재무 예측 분석가 목표주가	분석가 리서치 보고서 Blue Matrix
시장 가격	30년	주가 배당, 분할 및 기타 조치	ICE 시장 데이터 SEC 양식 S-1
지분 구조	10년	주요 주주 내부자 거래	SEC 양식 4 SEC 양식 13D
경영진	10년	리더십 팀 이사회	SEC 양식 10-K SEC 양식 DEF 14A
주요 개발	10년	회사 공시	SEC 양식 8-K

분석가	기관
Harshit Gupta	Accountability Research Corporation
Daniel Ford	Barclays
Ross Fowler	Barclays

Fortis 배당 및 자사주 매입

배당 기준 점검 4/6

핵심 정보

최근 배당 및 자사주 매입 업데이트

Upcoming dividend of CA$0.64 per share

Dividend of CA$0.64 announced

Fortis Inc. Declares Second Quarter Dividend for 2026, Payable on June 1, 2026

Upcoming dividend of CA$0.64 per share

Dividend of CA$0.64 announced

Fortis Inc. Announces First Quarter Dividend for 2026, Payable on March 1, 2026

Recent updates

Fortis Inc. Announces Retirement of Gary Smith as Executive Vice President, Operations and Technology, Effective May 31, 2026

Upcoming dividend of CA$0.64 per share

Full year 2025 earnings released: EPS: CA$3.40 (vs CA$3.24 in FY 2024)

Price target increased by 11% to US$56.50

Fortis Inc. to Report Q1, 2026 Results on May 06, 2026

Dividend of CA$0.64 announced

Fortis Inc., Annual General Meeting, May 07, 2026

Price target increased by 21% to US$57.00

Fortis Inc. Declares Second Quarter Dividend for 2026, Payable on June 1, 2026

Upcoming dividend of CA$0.64 per share

Fortis Inc. to Report Q4, 2025 Results on Feb 12, 2026

Dividend of CA$0.64 announced

Fortis Inc. Announces First Quarter Dividend for 2026, Payable on March 1, 2026

Third quarter dividend of CA$0.64 announced

Fortis Inc. Declares Dividend on the Common Shares for the Fourth Quarter 2025, Payable on December 1, 2025

Third quarter 2025 earnings: EPS and revenues miss analyst expectations

Fortis Inc. to Report Q3, 2025 Results on Nov 04, 2025

Vision Ridge Partners, LLC acquired FortisTCI Ltd. from Fortis Inc. (TSX:FTS).

Fortis Inc. announced that it expects to receive CAD 750 million in funding

Fortis Expands Embedded Payments Capabilities with Adobe Commerce Extension and App Assurance Certification

Second quarter dividend of CA$0.61 announced

Fortis Inc. Declares Dividend on Common Shares, Payable on September 1, 2025

Fortis Inc. to Report Q2, 2025 Results on Aug 01, 2025

Fortis: The Buy Case For A Low-Risk Utility With Strong Earnings Visibility

Upcoming dividend of CA$0.61 per share

First quarter 2025 earnings: EPS and revenues exceed analyst expectations

Fortis Inc. to Report Q1, 2025 Results on May 07, 2025

Fortis Inc. announced that it expects to receive CAD 600 million in funding

Dividend of CA$0.61 announced

Fortis Inc., Annual General Meeting, May 08, 2025

Full year 2024 earnings: EPS in line with expectations, revenues disappoint

Fortis Inc. Declares Dividend on Common Shares for the Second Quarter of 2025, Payable on June 1, 2025

Upcoming dividend of CA$0.61 per share

Fortis Inc. to Report Fiscal Year 2024 Results on Feb 14, 2025

Fortis Inc. Announces Changes to its Board of Directors

Dividend of CA$0.61 announced

Fortis Inc. Announces First Quarter Dividend for 2025, Payable on March 1, 2025

Behind The Billions: Fortis' Ambitious Vision For 2029

Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Fortis Inc. Provides Annual Dividend Growth Guidance Through 2029

Price target increased by 17% to US$49.66

Second quarter dividend of US$0.61 announced

Fortis Inc. Announces Fourth Quarter Dividend, Payable on December 1, 2024

Price target increased by 8.0% to US$42.62

Fortis Inc. announced that it expects to receive CAD 500 million in funding

Fortis: 'Hold' Despite The Outperformance

Upcoming dividend of CA$0.59 per share

Second quarter dividend of CA$0.59 announced

Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Fortis Inc. Announces Third Quarter Dividend, Payable on September 1, 2024

Now 20% undervalued

Now 20% undervalued

Fortis: A Look At The Valuation On This Dividend Aristocrat

Now 21% undervalued

Upcoming dividend of CA$0.59 per share

Fortis Inc. elects Jo Mark Zurel to the Board

Fortis Inc. to Report Q3, 2024 Results on Nov 05, 2024

First quarter 2024 earnings released: EPS: CA$0.93 (vs CA$0.91 in 1Q 2023)

Fortis: The Sub-Par Performance Continues Due To Valuation

President recently bought US$968k worth of stock

Fortis Inc., Annual General Meeting, May 02, 2024

Dividend of CA$0.59 announced

Full year 2023 earnings: EPS exceeds analyst expectations

Fortis Inc. to Report Q2, 2024 Results on Jul 31, 2024

Fortis Inc. Declares Dividend for the Second Quarter of 2024, Payable on June 1, 2024

Upcoming dividend of CA$0.59 per share at 4.5% yield

Fortis: Preferred Shares Deliver Yield And Outperform Common

Fortis Inc. Announces First Quarter 2024 Dividend, Payable on March 1, 2024

Upcoming dividend of CA$0.59 per share at 4.2% yield