Fortis unveiled a $28.8B, 5-year capital plan targeting 7% annualized rate base growth, positioning itself for consistent long-term expansion. FTS maintains its 52-year dividend growth streak, establishing itself as a stable, income-focused utility with strong investor appeal in the regulated utility space.
Cyborg Score Rationale
Fortis demonstrates solid fundamentals with consistent revenue growth, a 52-year dividend track record, and strategic capital deployment. However, recent challenges including lower wholesale margins and timing issues in cost recognition have created near-term headwinds that temper enthusiasm.
Top Insights
2025 revenue reached $12.17B, up 5.75% YoY with earnings of $1.80B, up 12.02%
EPS revised down to $3.49 from $3.53 due to weaker-than-expected results from UNS Energy and FortisAlberta
Dividend yield was 3.48% in 2025 with 73.03% payout ratio, down from 3.99% and 73.54% in 2024
Stock reached all-time high of 77.59 CAD on Feb 13, 2026
Named Competitors
Dominion Energy — Integrated energy company with electricity and gas operations
Duke Energy — Major U.S. regulated utility with diverse generation
Canadian Utilities — Canadian utility leader with electricity and gas assets
Recent Developments
(Feb 2026) Declared Q2 2026 dividends of $0.64 per common share to shareholders of record May 15, 2026
(Dec 2024) Announced $28.8B, 5-year capital plan targeting 7% annualized rate base growth
(2025) Revised EPS estimates down due to lower wholesale sales margins and increased operational costs at subsidiaries
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