Fortis (TSE:FTS) Sets New 1-Year High – Should You Buy?

Fortis Inc. (TSE:FTS) hit a new 52-week high during trading on Tuesday. The stock traded as high as C$84.24 and last traded at C$83.94, with a volume of 823,006 shares traded. The stock had previously closed at C$82.95.

Fortis News Summary

Here are the key news stories impacting Fortis this week:

• Positive Sentiment: Fortis reported higher earnings and raised its quarterly dividend 3.9%, from C$0.64 to C$0.665 per share. The increase extends its dividend-growth streak to 53 years and puts the annualized dividend at C$2.66, or about a 3.1% yield. Fortis reports higher earnings and raises quarterly dividend
• Positive Sentiment: The company’s record capital plan and commitment to growth through 2031 may support future earnings and regulated-asset expansion. What Fortis’s record capital plan means for shareholders
• Positive Sentiment: Some analysts raised their targets and retained or assigned Buy ratings: Desjardins and TD lifted targets to C$90. BMO also raised its target, to C$85, while keeping a Market Perform rating. BMO raises price target on Fortis
• Neutral Sentiment: Analyst views remain divided: National Bank raised its target to C$84 but maintained Sector Perform, while Raymond James downgraded Fortis to Hold despite increasing its target to C$86.50. This suggests limited consensus on further upside at current levels.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. National Bank Financial raised their target price on shares of Fortis from C$83.00 to C$84.00 and gave the company a “sector perform” rating in a research note on Wednesday. Barclays cut their price target on shares of Fortis from C$82.00 to C$76.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. TD increased their price target on shares of Fortis from C$87.00 to C$90.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James Financial cut shares of Fortis from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from C$85.50 to C$86.50 in a research report on Wednesday. Finally, Desjardins lifted their price objective on shares of Fortis from C$85.00 to C$90.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$81.95.

Fortis Price Performance

The company has a debt-to-equity ratio of 146.51, a quick ratio of 0.36 and a current ratio of 0.69. The stock has a market capitalization of C$44.25 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 3.01 and a beta of 0.49. The firm has a 50-day moving average price of C$77.43 and a 200 day moving average price of C$77.83.

Fortis (TSE:FTS) last released its earnings results on Tuesday, November 3rd. The company reported C$0.92 earnings per share for the quarter. The company had revenue of C$3.12 billion during the quarter. Fortis had a return on equity of 7.57% and a net margin of 15.04%. On average, analysts expect that Fortis Inc. will post 3.34 EPS for the current year.

Fortis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, December 1st will be issued a dividend of $0.6650 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.66 annualized dividend and a dividend yield of 3.1%. This is an increase from Fortis’s previous quarterly dividend of $0.64. Fortis’s payout ratio is 72.73%.

Fortis Company Profile

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation’s 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.