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 433,000 retail customers in southeastern Arizona; and 98,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,233 megawatts (MW), including 59 MW of solar capacity. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,048,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 572,000 customers in southern and central Alberta; owns 4 hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 143 MW; and on Prince Edward Island with a generating capacity of 130 MW. Additionally, it provides integrated electric utility service to approximately 67,000 customers in Ontario; approximately 270,000 customers in Newfoundland and Labrador; approximately 31,000 customers on Grand Cayman, Cayman Islands; and approximately 15,000 customers on certain islands in Turks and Caicos. The company also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 91,000 circuit Kilometers (km) of distribution lines; and approximately 49,500 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.
IPO Year: 2016
Exchange: NYSE
Website: fortisinc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/6/2024 | Outperform → Mkt Perform | Raymond James | |
| 9/20/2024 | Underperform | BofA Securities | |
| 12/12/2023 | Neutral → Underweight | JP Morgan | |
| 12/14/2022 | Underweight → Equal Weight | Wells Fargo | |
| 10/19/2022 | Mkt Perform → Outperform | Raymond James | |
| 7/27/2022 | Buy → Hold | Edward Jones | |
| 6/30/2022 | Neutral → Sell | UBS | |
| 6/1/2022 | Equal Weight → Underweight | Wells Fargo | |
| 1/7/2022 | Sector Outperform → Sector Perform | Scotiabank | |
| 1/5/2022 | Buy → Neutral | UBS |
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This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its third quarter results.1 Highlights Third quarter net earnings of $420 million or $0.85 per common share, up from $394 million or $0.81 per common share in 2023Adjusted net earnings per common share2 of $0.85, up from $0.84 in the third quarter of 2
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its 2025-2029 outlook1. Highlights 2025-2029 capital plan of $26 billion, $1 billion higher than prior plan; 6.5% average annual rate base growth through 2029Incremental regulated growth driven by transmission investments at ITC and customer growth in Albe
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, July 31, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its second quarter results1 and 2024 Sustainability Report. Highlights Second quarter net earnings of $331 million or $0.67 per common share, up from $294 million or $0.61 per common share in 2023Adjusted net earnings per common share2 of $0.67, up f
ST. JOHN'S, Newfoundland and Labrador, July 30, 2024 (GLOBE NEWSWIRE) -- This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) has declared the following dividends payable on September 1, 2024 to the Shareholders of Record of the following Shares of the Corporation at the close of business on August 20, 2024: $0.3063 per share on the First Preference Shares, Series "F";$0.3826875 per share on the First Preference Shares, Series "G"; $0.11469 per share on t
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, May 01, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its first quarter results.1 Highlights First quarter net earnings of $459 million or $0.93 per common share, up from $437 million or $0.90 per common share in 2023Adjusted net earnings per common share2 of $0.93, up from $0.91 in the first
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its 2023 fourth quarter and annual financial results1. Highlights Reported annual net earnings of $1.5 billion, or $3.10 per common share for 2023Annual adjusted net earnings per common share2 of $3.09, up from $2.78 for 2022Capital expenditures2 of $4.3 bi
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) has declared the following dividends payable on June 1, 2024 to the Shareholders of Record of the following Shares of the Corporation at the close of business on May 17, 2024: $0.3063 per share on the First Preference Shares, Series "F";$0.3826875 per share on the First Preference Shares, Series "G";$0.11469 per share on the First Pr
This news release constitutes a "designated news release" for the purposes of the Corporation's prospectus supplement dated September 19, 2023 to its short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) has declared the following dividends payable on March 1, 2024 to the Shareholders of Record of the following Shares of the Corporation at the close of business on February 16, 2024: $0.3063 per share on the First Preference Shares, Series "F";$0.3826875 per share on the First Preference Shares, Series "G"; $0.11469 per share on the
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its third quarter results1. Highlights Third quarter net earnings of $394 million or $0.81 per common share, up from $326 million or $0.68 per common share in 2022Adjusted net earnings per common share2 of $0.84, up from $0.71 in the third quarter
ST. JOHN'S, Newfoundland and Labrador, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its 2024-2028 outlook1. Highlights 2024-2028 capital plan of $25.0 billion, representing 6.3% rate base growth; up $2.7 billion from 2023-2027 five-year planGrowth largely driven by investments in transmission in the U.S. Midwest and resource transition plan in ArizonaFourth quarter common share dividend increasing by 4.4%, will mark 50 years of consecutive increases in dividends paidAnnual dividend growth guidance of 4-6% extended to 2028 "Our Board of
Raymond James downgraded Fortis from Outperform to Mkt Perform
BofA Securities resumed coverage of Fortis with a rating of Underperform
JP Morgan downgraded Fortis from Neutral to Underweight
Wells Fargo upgraded Fortis from Underweight to Equal Weight
Raymond James upgraded Fortis from Mkt Perform to Outperform
Edward Jones downgraded Fortis from Buy to Hold
UBS downgraded Fortis from Neutral to Sell
Wells Fargo downgraded Fortis from Equal Weight to Underweight
Scotiabank downgraded Fortis from Sector Outperform to Sector Perform
UBS downgraded Fortis from Buy to Neutral
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its third quarter results.1 Highlights Third quarter net earnings of $420 million or $0.85 per common share, up from $394 million or $0.81 per common share in 2023Adjusted net earnings per common share2 of $0.85, up from $0.84 in the third quarter of 2
ST. JOHN'S, Newfoundland and Labrador, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) will release its third quarter 2024 financial results on Tuesday, November 5, 2024. A teleconference and webcast will be held the same day at 8:30 a.m. (Eastern). David Hutchens, President and Chief Executive Officer and Jocelyn Perry, Executive Vice President and Chief Financial Officer will discuss the Corporation's third quarter financial results. Shareholders, analysts, members of the media and other interested parties are invited to listen to the teleconference via the live webcast on the Corporation's website, www.fortisinc.com/investors/events-and-presenta
ST. JOHN'S, Newfoundland and Labrador, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) will release its third quarter 2024 financial results on Tuesday, November 5, 2024. A teleconference and webcast will be held the same day at 8:30 a.m. (Eastern). David Hutchens, President and Chief Executive Officer and Jocelyn Perry, Executive Vice President and Chief Financial Officer will discuss the Corporation's third quarter financial results. Shareholders, analysts, members of the media and other interested parties are invited to listen to the teleconference via the live webcast on the Corporation's website, https://www.fortisinc.com/investors/events-and-
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its 2025-2029 outlook1. Highlights 2025-2029 capital plan of $26 billion, $1 billion higher than prior plan; 6.5% average annual rate base growth through 2029Incremental regulated growth driven by transmission investments at ITC and customer growth in Albe
ST. JOHN'S, Newfoundland and Labrador, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) announced today that its wholly owned subsidiary Fortis Energy Caribbean Inc. ("FECI") has agreed to provide a standby commitment (the "Standby Commitment") for a rights offering (the "Rights Offering") by Caribbean Utilities Company, Ltd. ("CUC") (TSX:CUP). Pursuant to the Rights Offering, CUC will issue up to an aggregate of 3,822,298 or 10% of its currently issued and outstanding Class A Ordinary Shares (the "CUC Shares"). FECI will exercise the rights issued to it in the Rights Offering and will acquire a minimum of 2,220,422 CUC Shares at a price of US$13.41
ST. JOHN'S, Newfoundland and Labrador, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Not for distribution to U.S. news wire services or dissemination in the United States. This news release constitutes a "designated news release" for the purposes of the Corporation's prospectus supplement dated September 19, 2023 to its short form base shelf prospectus dated November 21, 2022. Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) announced today that it has closed its offering by private placement (the "Offering"), pursuant to the exemptions from the prospectus requirements of applicable Canadian securities laws, of $500 million aggregate principal amount of 4.171% senior unsecured notes du
Not for distribution to U.S. news wire services or dissemination in the United States. This news release constitutes a "designated news release" for the purposes of the Corporation's prospectus supplement dated September 19, 2023 to its short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) announced today that it has priced an offering by private placement (the "Offering"), pursuant to the exemptions from the prospectus requirements of applicable Canadian securities laws, of $500 million aggregate principal amount of 4.171% senior unsecured notes due Septemb
This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. ST. JOHN'S, Newfoundland and Labrador, July 31, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its second quarter results1 and 2024 Sustainability Report. Highlights Second quarter net earnings of $331 million or $0.67 per common share, up from $294 million or $0.61 per common share in 2023Adjusted net earnings per common share2 of $0.67, up f
ST. JOHN'S, Newfoundland and Labrador, July 30, 2024 (GLOBE NEWSWIRE) -- This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated September 19, 2023 to Fortis' short form base shelf prospectus dated November 21, 2022. The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) has declared the following dividends payable on September 1, 2024 to the Shareholders of Record of the following Shares of the Corporation at the close of business on August 20, 2024: $0.3063 per share on the First Preference Shares, Series "F";$0.3826875 per share on the First Preference Shares, Series "G"; $0.11469 per share on t
ST. JOHN'S, Newfoundland and Labrador, July 23, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) will release its second quarter 2024 financial results on Wednesday, July 31, 2024. A teleconference and webcast will be held the same day at 8:30 a.m. (Eastern). David Hutchens, President and Chief Executive Officer and Jocelyn Perry, Executive Vice President and Chief Financial Officer will discuss the Corporation's second quarter financial results. Shareholders, analysts, members of the media and other interested parties are invited to listen to the teleconference via the live webcast on the Corporation's website, https://www.fortisinc.com/investor-relations/e
Scotiabank analyst Robert Hope maintains Fortis (TSX:FTS) with a Sector Perform and lowers the price target from C$60 to C$56.
By the close of today, March 01, 2024, Fortis (NYSE:FTS) will issue a dividend payout of $0.59 per share, resulting in an annualized dividend yield of 4.45%. Only those investors who owned the stock prior to the ex-dividend date on May 16, 2024 will receive this payout. Fortis Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left; } tr:nth-child(even) {
The Corporation's $25 billion five-year capital plan is expected to increase midyear rate base from $37.0 billion in 2023 to $49.4 billion by 2028, translating into a five-year compound annual growth rate of 6.3%3.
Fortis (NYSE:FTS) reported quarterly earnings of $0.53 per share which missed the analyst consensus estimate of $0.53 by 0.19 percent. This is a 2.04 percent decrease over earnings of $0.54 per share from the same period last year.
Companies Reporting Before The Bell • TELUS (NYSE:TU) is expected to report quarterly earnings at $0.23 per share on revenue of $5.24 billion. • Canopy Gwth (NASDAQ:CGC) is likely to report quarterly loss at $0.37 per share on revenue of $55.44 million. • Fortis (NYSE:FTS) is expected to report quarterly earnings at $0.53 per share on revenue of $2.39 billion. • AT&T (NYSE:T) is expected to report quarterly earnings at $0.23 per share on revenue of $5.25 billion. • Enbridge (NYSE:ENB) is expected to report quarterly earnings at $0.50 per share on revenue of $9.88 billion. • TELUS Intl (NYSE:TIXT) is projected to report quarterly earnings at $0.35 per share on revenue of $932.03 million
Fortis (NYSE:FTS) is set to give its latest quarterly earnings report on Friday, 2024-02-09. Here's what investors need to know before the announcement. Analysts estimate that Fortis will report an earnings per share (EPS) of $0.53. Fortis bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company beat EPS by $0.04, which was followed by a 0.0% drop in the share price the next day. Here's
The stock market has rebounded spectacularly from the bearish trend last year, as the S&P 500 index registered its longest weekly winning streak since 2017, rising over 23% year-to-date. The tech-focused Nasdaq Composite Index has gained over 43% so far this year. While the Federal Open Market Committee's dovish speech drove the current market rally, many analysts predict the upswing to be short-lived as the global economy stands on the precipice of a mild recession. Amid slowing consumer spending levels and increased geopolitical tensions impacting the global supply chain, UBS Group's Managing Partner Michael Riesner believes the current rally to be a bull trap. "We still think that
JP Morgan analyst Richard Sunderland downgrades Fortis (TSX:FTS) from Neutral to Underweight.
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ST. JOHN'S, Newfoundland and Labrador, May 02, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) announced the voting results from its Annual and Special Meeting of Shareholders held today. Shareholders voted in favour of all items of business before the meeting, including electing the nominated directors, appointing Deloitte LLP as the Corporation's auditors, approving the non-binding advisory vote regarding the Corporation's approach to executive compensation, and approving the omnibus equity plan and related matters. Election of Directors Fortis shareholders elected the following 12 individuals to the Board to serve until the next Annual Meeting of Shareh
Tucson Electric Power (TEP) will accelerate its clean energy expansion to support anticipated growth and maintain affordable, reliable service as the company works toward a new aspirational goal: net zero direct greenhouse gas emissions by 2050. TEP's 2023 Integrated Resource Plan (IRP), filed today with the Arizona Corporation Commission (ACC), describes how the company expects to satisfy customers' increasing energy needs over the next 15 years while reducing carbon dioxide (CO2) emissions and other environmental impacts. TEP expects to add 2,240 megawatts (MW) of wind and solar generation and 1,330 MW of energy storage by 2038, as well as 400 MW of natural gas turbines to help offset
ST. JOHN'S, Newfoundland and Labrador, May 04, 2023 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) announced the voting results from its Annual Meeting of Shareholders held today. Shareholders voted in favour of all items of business before the meeting, including electing the nominated directors, appointing Deloitte LLP as the Corporation's auditors, and voting on an advisory basis to accept the Corporation's approach to executive compensation. Election of Directors Fortis shareholders elected the following 12 individuals to the Board to serve until the next Annual Meeting of Shareholders or until their successors are elected or appointed: Nominee# Votes For%
ST. JOHN'S, Newfoundland and Labrador, May 05, 2022 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) announced the voting results from its Annual and Special Meeting of Shareholders held today. Shareholders voted in favour of all items of business before the meeting, including: electing the nominated directors; appointing Deloitte LLP as the Corporation's auditors; on an advisory basis to accept the Corporation's approach to executive compensation; and the amendment of the Corporation's second amended and restated 2012 employee share purchase plan to increase the share reserve. Election of Directors Fortis shareholders elected the following 13 individuals to the
ST. JOHN'S, Newfoundland and Labrador, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) today announced the retirement of Jim Laurito, Executive Vice President, Business Development, Chief Technology Officer effective December 31, 2021 and the appointment of Stuart Lochray as Senior Vice President, Capital Markets and Business Development effective September 8, 2021. "Jim Laurito has had a tremendously successful career in the energy sector," said David Hutchens, President and CEO, Fortis Inc. "His experience, insights and leadership have been invaluable to our Company and our industry. We wish him all the best in his retirement." Prior to his
ST. JOHN'S, Newfoundland and Labrador, May 06, 2021 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (NYSE:FTS) announced the voting results from its Annual Meeting of Shareholders held virtually today. Shareholders voted in favour of all items of business before the meeting, including electing the nominated directors, appointing Deloitte LLP as the Corporation's auditors and voting on an advisory basis to accept the Corporation's approach to executive compensation. With today's voting results, the Corporation is pleased to report that its Board of Directors (the "Board") has reached gender parity. Election of Directors Fortis shareholders elected the following 12 individu