Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (CAD) | Target 1 (CAD) | Target 2 (CAD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 15 Dec, 25 | FTS | Buy | CAD 70.16 | CAD 73.8 | CAD 75.3 | 50 days | Closed |
5.19%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. The company generates, transmits, and distributes electricity to approximately 459,000 retail customers in southeastern Arizona, including the greater Tucson metropolitan area; and 107,000 retail customers in southeastern Arizona with an aggregate capacity of 3, 443 megawatts (MW). It also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 43 MW; and distributes natural gas to approximately 1,105,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 615,000 customers in southern and central Alberta; owns four hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW. Additionally, it provides integrated electric utility service to approximately 70,000 customers in Ontario; approximately 280,000 customers in Newfoundland; approximately 35,000 customers on Grand Cayman, Cayman Islands; and approximately 92,000 customers on Maritime Electric. It also owns and operates approximately 91,100 circuit Kilometers (km) of distribution lines; and approximately 51,700 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.
Revenue Expansion: Revenue rose to CAD 2,938 million in Q3 FY2025 from CAD 2,771 million in Q3 FY2024
Growth in Adjusted Earnings: Adjusted earnings per share increased to CAD 0.87 in Q3 FY2025 from CAD 0.85 in Q3 FY2024
Weaker Operating Cash Flow: Operating cash flow decreased to CAD 1,027 million in Q3 FY2025 from CAD 1,338 million in Q3 FY2024
Decline in Reported EPS: Reported basic EPS declined to CAD 0.81 in Q3 FY2025 from CAD 0.85 in Q3 FY2024
Fortis’ earnings trajectory remains exposed to regulatory risk, particularly changes in allowed returns on equity and the timing of cost recovery for its large and expanding capital program, which could temporarily pressure cash flow and reported earnings
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 70.16 | 65.8 | 73.8 | 75.3 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Fortis offers a defensive, income-oriented profile anchored by a diversified portfolio of regulated electric and gas utilities across North America, providing high earnings visibility and limited commodity or volume risk. The company’s expanded 2026–2030 capital plan of CAD 28.8 billion underpins a targeted 7.0% compound annual rate base growth, supporting steady earnings expansion primarily through regulated returns rather than cyclical demand. This growth is complemented by a disciplined funding strategy, strong liquidity, and asset rationalisation through non-core disposals, which together reinforce balance sheet resilience. Fortis’ 52-year track record of dividend increases and extended guidance of 4–6% annual dividend growth through 2030 further enhances its appeal for long-term, income-focused investors.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given on Fortis Inc. (TSX: FTS) at the closing market price of CAD 70.16, as on Dec 12, 2025.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Utilities Industry: Utilities - Regulated Electric
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| FTS Fortis Inc |
-0.13 0.16% | 79.14 | 22.48 | 21.19 | 3.20 | 1.77 | 6.17 | 12.75 |
| H Hydro One Ltd |
-0.78 1.37% | 56.00 | 26.12 | 25.77 | 3.81 | 2.77 | 5.93 | 16.72 |
| FTS-PI Fortis Inc Pref I |
-0.2 0.99% | 19.90 | 6.08 | - | 2.43 | - | ||
| FTS-PM Fortis Inc Pref M |
0.14 0.56% | 25.27 | 7.08 | - | 2.16 | - | ||
| FTS-PH Fortis Inc Pref H |
0.07 0.34% | 20.63 | 5.24 | - | 2.10 | - |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on December 15, 2025. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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