Fortis stock trades at CAD 75.31 after Scotiabank trims EPS view

Published on 10/04/2026 at 10:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fortis stock draws a Moderate Buy consensus from 10 analysts, with a CAD 79.23 average target. Q2 EPS reached CAD 0.78, up CAD 0.02 year over year.

FTS, CA3495531079, Illustration mit AI erstellt.

Fortis stock (ISIN CA3495531079) was last at CAD 75.31 on the TSX on October 2, 2026 at 4:00 p.m. ET, up 0.32 percent for the session. The immediate catalyst is a lower Scotiabank earnings view for fiscal 2027, while the broader analyst target remains above the market price.

Scotiabank trims the EPS estimate

According to MarketBeat on October 2, 2026, Scotiabank lowered its FY2027 EPS forecast for Fortis to CAD 3.80 from CAD 3.83. The revised estimate remains above the broader consensus of CAD 3.34, creating a mixed signal: near-term expectations softened, but the forecast still exceeds the wider estimate.

Barclays also cut its price target to CAD 76.00 from CAD 82.00 on September 30, 2026, according to MarketBeat. That target is only CAD 0.69 above the TSX reference price, keeping the latest analyst actions cautious even as the wider consensus remains positive.

Q2 earnings rose year over year

Fortis reported CAD 0.78 in adjusted earnings per share and CAD 2.93 billion in revenue for Q2 2026, according to MarketBeat. The quarterly EPS figure was CAD 0.02 higher than in the same quarter a year earlier, giving investors a concrete operating comparison behind the current valuation.

The company said its Q2 net earnings reached CAD 396 million and that first-half capital investment totaled CAD 2.7 billion, as reported in the Yahoo Finance transcript. Management maintained its expectation of CAD 5.6 billion in 2026 capital investment and average annual rate-base growth of 7 percent through 2030.

Capital plan supports dividend growth

Fortis operates nine regulated utilities across Canada, the United States and the Caribbean, serving 3.5 million electricity and natural gas customers. Its investor-relations materials outline a CAD 28.8 billion capital plan for 2026 through 2030 and annual dividend growth guidance of 4-6 percent through 2030, according to Fortis.

That spending plan is the central counterweight to the recent estimate cuts. It gives the company a defined investment runway, while higher financing costs and the CAD 3.80 FY2027 EPS forecast show why analysts are separating long-term rate-base growth from near-term earnings pressure.

Fortis stock remains below its yearly high

Fortis had a market capitalization of CAD 38.3 billion on October 2, 2026, with a 52-week range of CAD 69.06 to CAD 83.75 and trading volume of 936,840 shares. The CAD 75.31 reference price therefore remains below the yearly high, while the CAD 79.23 analyst average target implies 5.20 percent upside from that price.