- Fortis’ Adjusted Earnings Per Share (EPS) for Q2 2024 is C$0.67, higher than last year’s C$0.62 and above the estimate of C$0.65.
- Adjusted net income for Fortis in Q2 is C$331 million, marking a 9.6% increase from the previous year. The estimate was C$321.4 million.
- Fortis expects long-term growth in its rate base to drive earnings, supporting a dividend growth guidance of 4-6% annually through 2028.
- The corporation has a $25 billion five-year capital plan aimed at increasing its midyear rate base from $37.0 billion in 2023 to $49.4 billion by 2028.
- This capital plan translates into a five-year compound annual growth rate (CAGR) of 6.3%.
- The investment community’s recommendations for Fortis include 4 buys, 6 holds, and 3 sells.
A look at Fortis /Canada Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Fortis, Inc., a gas and electric distribution company operating in Canada, shows a positive long-term outlook based on Smartkarma Smart Scores. With a high Value score of 4 and a strong Dividend score of 4, the company presents as a solid investment option. While its Growth score is moderate at 3, Fortis demonstrates robust Momentum with a score of 4, indicating a favorable trajectory for the company. However, its Resilience score of 2 shows a slight weakness in this aspect. Overall, Fortis seems well-positioned for growth and value appreciation in the long run.
Fortis, Inc. operates regulated utilities in electric and gas sectors and is also involved in non-regulated hydroelectric activities. Serving customers across Canada, the United States, and the Caribbean, Fortis is a key player in the energy distribution industry. With predominantly high scores in Value, Dividend, and Momentum, Fortis showcases its financial stability and growth potential. Despite a lower Resilience score, the company’s overall outlook remains positive, making it an attractive investment opportunity for investors seeking steady returns in the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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