TSX:FTSElectric Utilities
Fortis (TSX:FTS) Stock Premium Faces Funding Strain Despite Regulated Growth
Fortis entered this earnings season with a calm chart and a nervous question hanging over it. The stock has slipped over the past week and month, yet investors are still paying a P/E of 23.7x, above both utility peers and the wider industry. That premium only holds if the numbers back it up.
The headline this quarter is simple. Earnings per share in the second quarter landed at CA$0.78 and the trailing net profit margin sits at 14%. The market seems to be punishing the stock while the core...