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 |
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, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE:FTS) has declared the following dividends payable on March 1, 2025 to the Shareholders of Record of the following Shares of the Corporation at the close of business on February 18, 2025: $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, 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, 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
ST. JOHN'S, Newfoundland and Labrador, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE:FTS) will release its 2024 financial results on Friday, February 14, 2025. 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 2024 annual 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-presentations. Thos
ST. JOHN'S, Newfoundland and Labrador, Dec. 23, 2024 (GLOBE NEWSWIRE) -- This news release constitutes a "Designated News Release" incorporated by reference in the prospectus supplement dated December 9, 2024 to Fortis' short form base shelf prospectus dated December 9, 2024. Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE:FTS) today announced changes to its Board of Directors. The Board has accepted Ms. Lisa Crutchfield's resignation as a director of the Corporation effective December 31, 2024, and appointed Gregory Knight to fill the vacancy effective January 1, 2025. "It has been a privilege to serve on the Fortis Board of Directors and I wish the management team and Board muc
ST. JOHN'S, Newfoundland and Labrador, Dec. 18, 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, joined Wataynikaneyap Power and its 24 First Nations partners in celebrating the construction of the Wataynikaneyap Power transmission system at a gathering in Thunder Bay last week. The transmission system, which includes 1,800 kilometres of transmission lines and 22 substations, will connect 17 remote First Nations in Northwestern Ontario to the provincial power grid. This $1.9 billion megaproject was led by Wataynikaneyap Power, a regulated transmission company
ST. JOHN'S, Newfoundland and Labrador, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE:FTS) announced today that it will renew its at-the-market equity program (the "ATM Program") allowing the Corporation to issue up to C$500,000,000 (or its U.S. dollar equivalent) of common shares (the "Common Shares") from treasury to the public from time to time, at the Corporation's discretion. Any Common Shares sold in the ATM Program will be sold through the Toronto Stock Exchange (the "TSX"), the New York Stock Exchange (the "NYSE") or any other marketplace on which the Common Shares are listed, quoted or otherwise traded at the prevailing market price at 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, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE:FTS) has declared the following dividends payable on March 1, 2025 to the Shareholders of Record of the following Shares of the Corporation at the close of business on February 18, 2025: $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, 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
6-K - Fortis Inc. (0001666175) (Filer)
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6-K - Fortis Inc. (0001666175) (Filer)
6-K - Fortis Inc. (0001666175) (Filer)
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6-K - Fortis Inc. (0001666175) (Filer)
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F-X - Fortis Inc. (0001666175) (Subject)
F-10EF - Fortis Inc. (0001666175) (Filer)
6-K - Fortis Inc. (0001666175) (Filer)
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
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