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An update from Fortis ( (TSE:FTS) ) is now available.
Fortis Inc. reported strong financial results for 2024, with annual net earnings reaching $1.6 billion, marking a 6% growth in adjusted net earnings per share. The company’s robust performance was driven by rate base growth and strategic capital expenditures totaling $5.2 billion. Despite some challenges, such as increased finance costs and unrealized losses on derivatives, Fortis maintained a steady increase in its common share dividend for the 51st consecutive year. The company remains committed to its $26 billion five-year capital plan, aiming to achieve annual dividend growth of 4-6% through 2029, thereby reinforcing its industry position and delivering value to stakeholders.
More about Fortis
Fortis Inc. is a diversified leader in the North American regulated electric and gas utility industry, focusing on delivering reliable energy services to customers. The company is well-regarded for its governance practices and has a strong market presence, particularly in executing large-scale capital projects and maintaining a consistent dividend growth strategy.
YTD Price Performance: 7.10%
Average Trading Volume: 536,827
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $22.04B
For a thorough assessment of FTS stock, go to TipRanks’ Stock Analysis page.
