Fortis Inc.
FTS.TO
Toronto Stock Exchange80.65
CAD
-1.23
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Fortis Inc.
FTS.TO
(Toronto Stock Exchange)
Recent
price
80.65
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- Fortis Inc. is a well-diversified North American leader in the regulated electric and gas utility industry, operating nine regulated utilities across five Canadian provinces, ten U.S. states, and three Caribbean countries. Its core products and services encompass electricity and natural gas distribution; electricity transmission; gas-fired and hydroelectric power generation; and the provision of operation, maintenance, and management services for energy infrastructure. Fortis serves approximately 3.5 million electricity and gas customers with a total asset base of about $75 billion as of September 2025. The company’s utilities include significant transmission and distribution assets that represent 94% of its holdings, positioning it strongly within the regulated utility sector with a focus on delivering reliable, safe, and affordable energy solutions. Founded in 1987 and headquartered in St. John's, Newfoundland and Labrador, Fortis reported 2024 revenues of $12 billion, with net earnings of $1.6 billion, supported by a $5.2 billion capital expenditure program aimed at utility infrastructure growth. The company recently completed the Wataynikaneyap Transmission Power project, connecting 17 First Nations communities to the Ontario power grid, enhancing energy access while promoting sustainability. Fortis has approved a $26 billion five-year capital plan (2025-2029) targeting a 6.5% compound annual growth rate of rate base, including significant investments in transmission infrastructure under the Midcontinent Independent System Operator (MISO) long-range transmission plan and renewable natural gas and liquefied natural gas infrastructure in British Columbia. The company is committed to reducing its corporate-wide direct greenhouse gas emissions, targeting a 50% reduction by 2030 and net-zero emissions by 2050. Recent strategic developments include regulatory approvals for transmission projects and investments in grid resiliency and climate adaptation. Fortis raised its common share dividend by 4.2% in the fourth quarter of 2024, marking 51 consecutive years of dividend increases, signaling strong shareholder value propositions. The company also maintains flexibility in capital funding through cash from operations, regulated utility debt, and an available $500 million at-the-market equity program. Overall, Fortis leverages its diversified regulatory portfolio, sizeable infrastructure, and growth projects to support earnings growth and dividend stability through 2029 and beyond.
Fortis Inc. Announces First Quarter Dividends – 2026