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An announcement from Fortis ( (TSE:FTS) ) is now available.
Fortis Inc. reported first‑quarter 2026 net earnings attributable to common shareholders of $501 million, or $0.99 per share, broadly in line with a year earlier, as rate base growth and improved timing at Central Hudson offset weaker results at UNS Energy, foreign exchange headwinds and the dilutive impact of 2025 asset disposals. The utility invested $1.4 billion in capital expenditures in the quarter, reaffirmed its $5.6 billion 2026 capex plan, and highlighted progress on major projects including ITC’s Big Cedar data‑center load expansion, FortisBC’s Tilbury LNG storage expansion review, and regulatory milestones in Arizona, while DBRS Morningstar confirmed its A (low) issuer rating and the company reiterated a five‑year, $28.8 billion capital plan expected to support 7% compound rate base growth and 4‑6% annual dividend increases through 2030.
On the regulatory front, the Arizona Corporation Commission approved UNS Gas’s general rate application effective March 1, 2026, setting a 9.61% return on equity, a 56% equity layer and a formulaic rate adjustment mechanism, while Tucson Electric Power’s rate case advanced with an order anticipated in the fall. Fortis also announced the May 31, 2026 retirement of Executive Vice President of Operations and Technology Gary Smith after a 42‑year career with the organization, and noted incremental load‑growth opportunities, including new data‑center demand in Arizona and the planned fuel conversion of the Springerville Generating Station to natural gas to extend its life and support customer affordability and system reliability.
The most recent analyst rating on (TSE:FTS) stock is a Buy with a C$62.00 price target. To see the full list of analyst forecasts on Fortis stock, see the TSE:FTS Stock Forecast page.
Spark’s Take on FTS Stock
According to Spark, TipRanks’ AI Analyst, FTS is a Neutral.
The score is primarily held back by fundamentals: rising leverage and consistently negative free cash flow despite stable regulated earnings. Earnings-call commentary is a clear positive due to reaffirmed long-term rate-base and dividend growth guidance, while technicals are mixed (longer-term trend support but near-term weakness). Valuation is reasonable for the sector, supported by a solid dividend yield.
To see Spark’s full report on FTS stock, click here.
More about Fortis
Fortis Inc. is a diversified North American regulated electric and gas utility holding company listed on the TSX and NYSE under the ticker FTS. Through subsidiaries such as UNS Energy, Tucson Electric Power, ITC and FortisBC, it focuses on rate-regulated transmission and distribution, with a large capital program aimed at grid modernization, load growth and energy infrastructure, including LNG and renewable gas in British Columbia.
The group’s business model emphasizes low‑risk, regulated returns and growing rate base across multiple U.S. and Canadian jurisdictions. Its assets include electric transmission networks, gas distribution systems and generation facilities, and it targets steady earnings and dividend growth driven by multi‑year capital investments and load expansion opportunities such as data centers.
Average Trading Volume: 1,713,380
Technical Sentiment Signal: Buy
Current Market Cap: C$39.33B
For a thorough assessment of FTS stock, go to TipRanks’ Stock Analysis page.