FTS

Fortis Inc Stock Performance: Fortis Inc shares have surpassed the average analyst 12-month target price of $45.04, currently trading at $45.30, prompting analysts to consider either downgrading their valuation or raising their target prices based on the company's performance.

Analyst Target Variability: There is a range of analyst targets for Fortis Inc, with some as low as $42.00 and others as high as $48.61, indicating differing opinions on the stock's future potential and encouraging investors to reassess their positions.

Fortis Inc. Offering Announcement: Fortis Inc. has successfully closed a private placement offering of $600 million in senior unsecured notes, with a 4.090% interest rate due March 26, 2032, facilitated by a syndicate of agents including RBC Dominion Securities and BMO Nesbitt Burns.

Company Overview: Fortis is a leading North American utility company with $12 billion in revenue and $73 billion in assets as of December 31, 2024, serving customers across five Canadian provinces, ten U.S. states, and three Caribbean countries.

Current Stock Performance: Fortis Inc's shares have surpassed the average analyst 12-month target price of $44.49, trading at $44.88, prompting analysts to consider either downgrading their valuation or raising their target prices based on the company's performance.

Analyst Insights: The average target price is influenced by various analysts, with predictions ranging from $40.00 to $47.96, indicating a diverse outlook on the stock's future potential and encouraging investors to evaluate whether to hold or sell their shares.

Upcoming Ex-Dividend Dates: Fortis Inc, Johnson & Johnson, and ConnectOne Bancorp Inc will trade ex-dividend on 2/18/25, with respective dividends of $0.615, $1.24, and $0.18 scheduled for payment in early March 2025.

Estimated Annual Yields: The estimated annual yields based on recent stock prices are 5.55% for Fortis Inc, 3.15% for Johnson & Johnson, and 2.67% for ConnectOne Bancorp Inc, reflecting the historical stability of their dividends.

Earnings Reports: Major companies such as American Axle, Enbridge, and Coca-Cola Europacific Partners are set to report earnings today, with expected stock movements indicated by options prices.

Options Trading Insights: Investors can view real-time data on expected earnings moves and options activity for these companies, but should be aware of the risks associated with options trading.

Fortis Inc. Earnings Report: Fortis Inc. reported fourth quarter adjusted earnings per share of $0.83, surpassing analyst expectations of $0.58, and reflecting a 25.8% increase from the previous year, driven by rate base growth and new customer rates.

Future Growth Plans: The company reaffirmed its five-year capital plan of $26 billion through 2029, aiming for a 6.5% annual growth in its rate base and maintaining an annual dividend growth guidance of 4-6%.

Financial Performance: Fortis Inc. reported a net earnings increase to $1.6 billion for 2024, with adjusted earnings per share rising to $3.28, driven by capital expenditures of $5.2 billion and rate base growth across its utilities.

Future Outlook: The company has outlined a $26 billion five-year capital plan aimed at increasing its rate base from $39 billion in 2024 to $53 billion by 2029, while also committing to reducing greenhouse gas emissions by 50% by 2030 and achieving net-zero emissions by 2050.

Fortis Performance in 2024: Fortis reported strong EPS and rate base growth in 2024, executing a $5.2 billion capital program while maintaining high safety and reliability standards, and aims for a 4-6% annual dividend growth through 2029 with a $26 billion five-year capital plan.

Investment Insights: TipRanks offers a Smart Score tool to help investors identify top-performing stocks and track their investments against Wall Street analysts' recommendations.

Fortis Capital Plan: Fortis is implementing a C$26B five-year capital plan aimed at increasing its midyear rate base from C$39B in 2024 to C$53B by 2029, resulting in a compound annual growth rate of 6.5%.

Investment Insights: TipRanks offers tools like the Smart Score to help investors identify top-performing stocks and track their investments against Wall Street analysts' recommendations.

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Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and timely updates.

Scotiabank's Price Target Update: Scotiabank has raised its price target for Fortis (FTS) to C$66 from C$63 while maintaining a Sector Perform rating, citing increased opportunities in Canadian energy infrastructure due to rising power and natural gas demand.

Investment Insights: The firm is introducing 2027 estimates for the sector and suggests an upward bias in long-term estimates related to these trends, emphasizing the importance of data-driven tools like TipRanks' Smart Score for informed investment decisions.

Analyst Coverage Initiations: Several top Wall Street analysts have initiated coverage on various companies, including GE Vernova Inc. with an Outperform rating and a price target of $448, Merus N.V. with an Overweight rating and a target of $84, and Viking Therapeutics, Inc. with a Sector Outperform rating and a target of $102.

Stock Performance Updates: The current closing prices for the stocks mentioned are GE Vernova at $369.65, Merus at $40.26, Viking Therapeutics at $29.32, and Sunrise Realty Trust at $11.47, reflecting the analysts' expectations for future performance.

Fortis Inc. Financial Results Announcement: Fortis Inc. will release its 2024 financial results on February 14, 2025, followed by a teleconference at 8:30 a.m. (Eastern) where executives will discuss the results.

Participation Details: Interested parties can join the teleconference via a live webcast or by calling specific numbers for participation; a replay will be available after the call until March 14, 2025.

Dividend Kings Overview: Companies like Coca-Cola, Kenvue, and Fortis are highlighted as reliable Dividend Kings, having paid and raised dividends for over 50 years, making them attractive options for income-seeking investors despite current market challenges.

Investment Insights: Each company presents unique opportunities; Coca-Cola offers a stable dividend yield but faces growth challenges, Kenvue has potential for improvement in its skin health segment, and Fortis provides a strong regulated utility model with plans for future dividend growth.

Dividend Run Alert for Fortis Inc: A "Potential Dividend Run Alert" was issued for Fortis Inc (NYSE: FTS), highlighting the expected stock price behavior around its upcoming ex-dividend date of February 18, 2025, where investors anticipate a rise in stock price before the dividend payout.

Investment Strategy Insights: The article discusses various strategies employed by dividend investors regarding timing their purchases and sales around ex-dividend dates, noting that historically, FTS has shown capital gains exceeding the dividend amounts in three out of four recent instances.

Market Performance: Celestica Inc. and Alkermes PLC saw significant pre-market gains of 12.7% and 10.9%, respectively, while Mobileye Global Inc. and UPS experienced notable declines of 14.1% and 13.6%.

Futures and Commodities Update: S&P 500 futures rose by 0.14%, Dow futures fell by 0.13%, Brent crude oil futures decreased by 0.07%, and gold futures increased by 0.91%.

Analyst Rating and Price Target: Wells Fargo analyst Neil Kalton has maintained a Hold rating on Fortis (FTS) with a price target of C$63.00, while the stock closed at $42.42. The analyst consensus for Fortis is also a Hold, with a price target of $45.76.

Company Overview: Fortis, Inc. is an international electric and gas utility holding company operating through regulated and non-regulated segments, with a market cap of $20.49B and a P/E ratio of 17.78.

Fortis Inc. Financial Results Announcement: Fortis Inc. will release its 2024 financial results on February 14, 2025, with a teleconference and webcast scheduled for 8:30 a.m. Eastern time the same day, featuring discussions by CEO David Hutchens and CFO Jocelyn Perry.

Participation Details: Interested parties can join the teleconference via a live webcast or by phone, with options for toll-free participation in Canada and the U.S., as well as international dialing. A replay of the call will be available shortly after it concludes.

Stock Market Performance: Symbotic Inc. and Life Time Group Holdings saw significant pre-market gains of 16.2% and 7.7%, respectively, while Brixmor Property Group and Fortis Inc. experienced declines of 8.3% and 7.0%. S&P 500 futures rose by 0.19%, contrasting with a 0.19% drop in Dow futures.

Commodities and Global Indices: Brent crude oil futures fell by 0.88%, gold futures increased by 0.49%, and Bitcoin decreased by 0.41%. Meanwhile, Asian stocks showed positive movement, with Japan's NIKKEI 225 and China's Shanghai Composite both up, and European indices also reported gains.