BMO cuts Fortis stock target to USD 57.23

Published on 10/17/2026 at 20:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fortis reports on November 3, 2026. Fortis stock last stood at EUR 49.61 on October 16, 2026 at 11:00 p.m. CEST and TSX shares rose 1.66 percent to CAD 78.81.

BMO target and reporting date

BMO Capital adjusted its Fortis target from USD 58.48 to USD 57.23 on October 16, 2026.
Fortis will release third-quarter 2026 results on November 3, 2026.
Fortis stock last stood at EUR 49.61 at Lang & Schwarz on October 16, 2026 at 11:00 p.m. CEST, while TSX shares rose 1.66 percent to CAD 78.81.
Fortis had a market capitalization of CAD 40.3 billion and a P/E ratio of 23.11 on October 16, 2026.

FTS, CA3495531079, Illustration mit AI erstellt.

Fortis (ISIN CA3495531079) faces a lower BMO Capital valuation after analyst Benjamin Pham adjusted the target from USD 58.48 to USD 57.23 while maintaining a Hold rating on October 16, 2026, according to Futu News. The new target stands 2.64 percent above the USD 55.76 last price on the NYSE dated October 16, 2026. Fortis stock last stood at EUR 49.61 at Lang & Schwarz on October 16, 2026 at 11:00 p.m. CEST.

November 3 brings the next report

Fortis will release its third-quarter 2026 results on November 3, 2026, according to the company release dated October 5, 2026, published by Fortis. The company will also present a new five-year capital outlook for 2027 through 2031 during the same event.

Capital plan supports dividend growth

Fortis lists a CAD 28.8 billion capital plan for 2026 through 2030 and annual dividend growth guidance of 4.00 percent to 6.00 percent through 2030 on its investor-relations page. The plan frames the upcoming report around investment execution and funding discipline rather than a single quarterly earnings figure.

In the second quarter of 2026, Fortis reported CAD 396.0 million in net earnings and CAD 0.78 earnings per share, up CAD 0.02 from the second quarter of 2025, according to the Yahoo Finance transcript. This historical quarterly comparison gives the November release a concrete earnings benchmark.

Fortis trades within its yearly range

On the TSX, Fortis closed at CAD 78.81 on October 16, 2026, up 1.66 percent from CAD 77.52. Its 52-week range was CAD 69.06 to CAD 83.75, placing the close 5.90 percent below the high and 14.12 percent above the low. Trading volume was 1,506,296 shares against an average of 1,441,475.

Comparison with peers

Fortis (TSX, CAD): plus 1.66 percent, P/E 23.11, market capitalization CAD 40.3 billion.

Emera (TSX, CAD): plus 1.03 percent, P/E 21.35, market capitalization CAD 20.7 billion.

Canadian Utilities (TSX, CAD): plus 1.03 percent, P/E 312.44, market capitalization CAD 10.3 billion.

Valuation and the next date

Fortis carried a trailing P/E ratio of 23.11 and a dividend yield of 3.00 percent on October 16, 2026. The November 3, 2026 results date is the next scheduled corporate event. BMO's USD 57.23 target provides a separate analyst reference, but the note's Hold rating and the target cut keep the signal measured.

Price and investor perspective

For investors, the key contrast is between the lower analyst target and Fortis's regulated investment plan. The stock's TSX close remained inside its 52-week range, while the next report will test whether the CAD 28.8 billion capital plan is translating into the earnings growth reflected in the second-quarter comparison.

The further course of trading is shown by the continuously updated real-time quote of Fortis stock.