Is Fortis stock a buy right now?
Fortis Inc. (TSX: FTS) continues to stand out in Canada’s utilities sector as a reliable, income-generating option for retail investors, trading around CAD 68.27 with average daily volumes of approximately 1.9 million shares. This strong liquidity reflects robust investor confidence, underpinned by defensive characteristics and solid operational results. Fortis has recently marked its 51st consecutive year of dividend increases (+4.2% in Q4 2024), and posted annual earnings growth, reporting net income of USD 1.6 billion and adjusted EPS up 6% over the previous year. Completion of the Wataynikaneyap Transmission Power project—connecting 17 First Nations communities—and substantial emission reductions (down 34% since 2019) highlight both operational achievement and commitment to sustainability. Although modest regulatory changes in the U.S. and ongoing capital investment plans introduce manageable uncertainties, market sentiment remains constructive, thanks to Fortis’s 93% regulated asset base, low beta (0.31), and forward dividend guidance of 4–6% annually through 2029. Within a utility sector increasingly focused on energy transition and grid modernization, Fortis has set a five-year USD 26 billion capital plan, aiming for significant rate base expansion. The consensus among over 32 national and international banks targets a price of CAD 88.75, signaling broad confidence in Fortis as a resilient, long-term portfolio cornerstone.
- Consistent 51-year track record of annual dividend increases.
- 93% of assets are regulated, ensuring predictable, stable cash flows.
- Five-year, USD 26 billion capital plan boosts future growth visibility.
- Strong commitment to sustainability with major emission reductions and targets to 2050.
- Low beta (0.31) offers reduced volatility versus the wider market.
- Large capital expenditure plans may increase exposure to higher interest rate environments.
- Dependent on regulatory outcomes, though recent changes have had manageable impacts.
- What is Fortis?
- How much is Fortis stock?
- Our full analysis on Fortis </b>stock
- How to buy Fortis stock in Canada?
- Our 7 tips for buying Fortis stock
- The latest news about Fortis
- FAQ
Why trust HelloSafe?
At HelloSafe, our expert has been closely monitoring the performance of Fortis for over three years. Every month, hundreds of thousands of users in Canada rely on us to interpret market trends and highlight the best investment opportunities. Our analyses are provided solely for informational purposes and do not constitute investment advice. In line with our ethical guidelines, we have never received, and will never accept, any compensation from Fortis.
What is Fortis?
| Indicator | Value | Analysis |
|---|---|---|
| 🏳️ Nationality | Canada | Canadian-controlled utility, dominant in North America and the Caribbean. |
| 💼 Market | TSX, NYSE | Shares are dual-listed, providing access for both Canadian and U.S. investors. |
| 🏛️ ISIN code | CA3495531079 | Unique identifier facilitates global trading and investor accessibility. |
| 👤 CEO | David Hutchens | Experienced leadership; oversees capital expansion and sustainability initiatives. |
| 🏢 Market cap | CAD 33.96 billion | Large-cap status; indicates strong stability and investor confidence. |
| 📈 Revenue | USD 12 billion (2024) | Steady revenue base from regulated operations supports predictable cash flows. |
| 💹 EBITDA | ~USD 4.7 billion (2024 est.) | Solid EBITDA reflects healthy core earnings from diversified utility assets. |
| 📊 P/E Ratio (Price/Earnings) | 21.25 | Valuation in line with utilities sector; suggests fair pricing but limited near-term upside. |
How much is Fortis stock?
The price of Fortis stock is rising this week. As of now, FTS is trading at CAD 68.27 on the TSX, up 1.08% over the last 24 hours and gaining notably over the past week. The company holds a market capitalization of approximately CAD 33.96 billion, with an average 3-month trading volume of about 1.9 million shares.
| Metric | Value |
|---|---|
| P/E Ratio | 21.25 |
| Dividend Yield | 3.52% |
| Beta | 0.31 |
This defensive profile and history of growing dividends make Fortis a steady option for Canadian investors looking for income and stability.
Compare the best brokers in Canada!Compare brokersOur full analysis on Fortis stock
Having carefully examined Fortis Inc.’s most recent financial disclosures—alongside the stock’s trajectory over the past three years—and synthesizing insights from multiple analytic frameworks and competitive benchmarking through our proprietary models, a nuanced yet compelling picture emerges. By integrating market data, key financial ratios, and technical signals, we can better understand where Fortis stands within the North American utilities landscape. So, why might Fortis stock once again become a strategic entry point into the regulated utilities sector as we approach 2025?
Recent Performance and Market Context
Fortis has exhibited remarkable resilience and positive momentum in a market environment often characterized by uncertainty and volatility. As of April 30, 2025, Fortis traded at CAD 68.27 on the TSX, marking a testing of new 52-week highs after advancing more than +30% from its 52-week low of CAD 52.19. The daily uptick of 1.08% (TSX) and 1.41% (NYSE) underscores growing investor enthusiasm and confidence.
Key drivers behind this price strength include:
- Completion of Major Projects: The recent commissioning of the Wataynikaneyap Transmission Power project, connecting 17 First Nations communities, not only reflects operational execution but also fosters community partnerships and revenue diversity.
- Dividend Achievements: Fortis increased its quarterly dividend by 4.2% in Q4 2024, extending its streak to 51 consecutive years—an exceptional signal of long-term value creation and management discipline.
- Sector Tailwinds: The broader utilities sector remains well-supported by macroeconomic themes—renewed interest in grid modernization, increased electrification, and investor rotation toward defensive yield assets amid global rate fluctuations.
Favourable regulatory updates, such as new rate plan approvals in Arizona and stable returns on equity in U.S. jurisdictions, have further cemented the predictability of Fortis’s earnings power. Against a backdrop of robust capital markets and investor preference for stability and dividend income, Fortis’s positioning as a top-tier utility has rarely looked as constructive.
Technical Analysis
From a technical vantage point, Fortis is exhibiting several hallmarks of a bullish structure:
- RSI (Relative Strength Index): The current 14-day RSI stands at approximately 64.23. This places the stock comfortably in bullish territory, yet below the overbought threshold, indicating continued upside potential without short-term exhaustion.
- MACD (Moving Average Convergence Divergence): A positive MACD of 0.53 reflects underlying momentum strength. The bullish cross seen in early Q2 has provided reliable buy signals for trend-following strategies.
- Moving Averages: Fortis is trading above both its short-term (20-day) and longer-term (50- and 200-day) moving averages on both the TSX and NYSE. Such alignment often anticipates further trend acceleration.
- Support and Resistance: On the TSX, strong support has consolidated near CAD 67.30, while the current price already tests recent highs—breaking convincingly above this resistance could catalyze further buying.
The confluence of these technical indicators—momentum, trend alignment, and strong support levels—suggests that Fortis may be entering a new bullish phase, inviting consideration for new or additional allocations.
Fundamental Analysis
Fortis’s fundamentals exhibit the stability and measured growth that are hallmarks of top-tier regulated utilities:
- Revenue and Earnings Growth: For 2024, Fortis reported USD 12 billion in revenue and net earnings of USD 1.6 billion, with adjusted EPS of USD 3.28 (a 6% year-over-year increase). This consistent performance is both a testament to the company’s operational quality and the resilience of its regulated asset base.
- Justified Valuation: With a trailing P/E of 21.25 and a dividend yield of 3.52%, Fortis is priced attractively relative to its Canadian utility peers, given its superior earnings visibility and dividend stability. The PEG ratio, factoring in the 6.5% projected CAGR in rate base through 2029, indicates ongoing value even in a moderately valued environment.
- Strategic Strengths:
- Exceptionally reliable cash flow due to 93% of assets being regulated transmission and distribution.
- Market leadership across 5 Canadian provinces, 10 U.S. states, and the Caribbean.
- Innovation and ESG Commitment: Early moves into grid resiliency, renewable gas, and LNG infrastructure are positioning Fortis at the forefront of the green energy transition.
- Dividend durability: A 51-year dividend increase streak is matched by few global peers.
These characteristics justify renewed interest in Fortis as a core defensive and income-generating holding.
Volume and Liquidity
Market liquidity and volume trends are key confidence indicators for institutional and retail investors alike:
- Consistent Trading Volume: Average daily volume reaches approximately 1.9 million shares on the TSX and 702,000 shares on the NYSE, supporting efficient price discovery and low transaction costs.
- Market Capitalization: At approximately CAD 34 billion, Fortis is among the largest Canadian utilities, drawing both domestic and global investor interest.
- Float Dynamics: The ample public float allows for dynamic institutional positioning, ensuring robust liquidity even for large transactions—a notable strength for those considering scalable entry or exit strategies.
This sustained volume and ample float reinforce confidence in Fortis’s ability to support dynamic, fair valuation over a range of market conditions.
Catalysts and Positive Outlook
Fortis stands at the intersection of transformative industry trends and its own ambitious forward-looking agenda:
- Major Five-Year Capital Plan: USD 26 billion is earmarked for expansion through 2029 (up USD 1 billion from the previous plan), driving an anticipated rate base jump from USD 39 billion (2024) to USD 53 billion (2029) at a projected 6.5% CAGR. This capital deployment is expected to foster steady earnings and dividend growth.
- Dividend Growth Guidance: Management’s public commitment to 4–6% annual dividend growth through 2029 is directly supported by both regulatory certainty and visible project pipelines—unusual clarity for medium-term income investors.
- Grid Modernization and Climate Adaptation: Strategic investments in U.S. transmission infrastructure (notably through ITC’s MISO projects), system expansion in British Columbia, and broad-based spending on grid resiliency will enhance reliability and open new growth avenues.
- ESG and Environmental Targets: Ambitious milestones—including a 50% reduction in direct GHG by 2030 and net-zero by 2050—enhance Fortis’s attractiveness to ESG-focused funds and long-term global investors.
Layered atop this are very supportive sector fundamentals: sustained regulatory tailwinds, broad electrification, the global drive for decarbonization, and a continuing “flight to quality” mentalité among yield-hunting investors. Fortis’s current project roster and dividend profile may thus serve as a powerful upward driver for valuation as these themes crystallize.
Investment Strategies
Given the synergy of technical, fundamental, and market factors, several entry strategies for Fortis become prominent:
- Short-Term Positioning: For those seeking tactical entries, the stock’s recent breakout and positive momentum, coupled with RSI remaining below overbought levels, provide a favorable technical low-risk window—particularly as the stock consolidates just above its support at CAD 67.30.
- Medium-Term Outlook: With a strong capital plan and known dividend growth trajectory, investors may position ahead of the next quarterly dividend (record date May 16, 2025), seeking both yield and price appreciation as regulatory and project catalysts unfold through 2025–2026.
- Long-Term Investment Thesis: The structural strengths—market dominance, visible capex pipeline, sustained EPS growth, and robust ESG alignment—form a compelling rationale for inclusion in retirement and income portfolios, or as a core defensive anchor for all-weather portfolios.
For each horizon, the combination of stability, visible growth, and an upward-trending technical profile argues for renewed conviction in Fortis’s prospects.
Is It the Right Time to Buy Fortis?
Stacking its recent successes—a sector-beating price rally, robust earnings growth, a fortified balance sheet, and an unwavering half-century dividend record—Fortis seems to represent an excellent opportunity at this juncture. With current prices testing all-time highs, volume remains strong, signaling conviction among both institutional and retail shareholders. The fundamentals justify renewed interest: compelling valuation, earnings visibility, and unmatched dividend durability.
Looking ahead, Fortis’s powerful alignment with essential structural trends—from energy transition to digital grid modernization—could propel the company into a leadership role over the coming decade. As capital plans advance and regulatory clarity persists, the outlook remains constructive for continued upside, particularly for investors seeking a blend of stability, growth, and resilient income.
In summary, Fortis embodies a rare combination of quality, growth, and defensive yield—making now an especially opportune time for serious investors to consider positioning, as the company appears poised to benefit from both sector momentum and its own robust execution in the years ahead.
How to buy Fortis stock in Canada?
Buying Fortis Inc. (FTS) stock online is more accessible and secure than ever for Canadian investors. By using a regulated broker, you can invest in this leading utility company directly from your computer or mobile device. There are two main ways to buy Fortis shares: purchasing actual shares (spot buying), or trading Contracts for Difference (CFDs), which allow you to speculate on price movements. Both methods offer unique advantages and fees. To help you make the best choice for your needs, you'll find a broker comparison further down the page.
Spot Buying
A cash or spot purchase of Fortis stock means that you buy real shares, which are then held in your name in your brokerage account. This traditional investing method is straightforward: you pay the full amount upfront and benefit from any dividends or capital gains. Brokers in Canada typically charge a fixed commission per order, ranging from $0 to $10 CAD, depending on the platform.
Important information
For example, if the Fortis share price is $68.27 CAD, with a $1,000 investment and a $5 brokerage fee, you can buy approximately 14 shares (as $68.27 × 14 = $955.78, plus the $5 commission totals $960.78).
- Gain scenario: If the share price rises by 10%, your shares are now worth $1,100 CAD.
- Result: +$100 gross gain, or +10% on your investment.
Trading via CFD
CFD trading allows you to speculate on the price movements of Fortis shares without owning the actual stock. With CFDs, you can take advantage of leverage, meaning you can control a larger position with a smaller amount of capital. However, this comes with additional risk. Main fees include the spread (the difference between the buy and sell price) and overnight financing charges if you hold your position longer than one day.
Important information
For example, with a $1,000 stake and 5x leverage, you open a CFD position on Fortis shares and gain $5,000 market exposure.
- Gain scenario: If Fortis stock rises by 8%, your position gains 8% × 5 = 40%.
- Result: +$400 gain, on your $1,000 investment (excluding fees).
Final Advice
Before investing, it is essential to compare brokers’ fees, platforms, and trading conditions, as costs can vary significantly. Whether you choose spot buying for long-term growth and dividends, or CFDs for active trading with leverage, the right choice will depend on your investment goals and risk appetite. To help you decide, a detailed broker comparator is available further down the page for your convenience.
Our 7 tips for buying Fortis stock
| 📊 Step | 📝 Specific tip for Fortis |
|---|---|
| Analyze the market | Assess the Canadian and U.S. utility sector trends and how rising interest rates or regulatory decisions could impact Fortis’s defensive profile, especially given its significant regulated asset base and stable cash flows. |
| Choose the right trading platform | Select a Canadian brokerage that allows direct access to the TSX and offers commission-free trades for Canadian equities, enabling cost-effective investment in FTS while taking advantage of dividend-friendly features. |
| Define your investment budget | Allocate an appropriate portion of your portfolio to Fortis, keeping its low volatility and steady dividends in mind, but ensure diversification with other sectors for balanced risk. |
| Choose a strategy (short or long term) | Consider a long-term strategy to benefit from Fortis’s proven track record of dividend growth, 51 consecutive years of increases, and ambitious five-year capital plan focused on stable, regulated returns. |
| Monitor news and financial results | Regularly follow Fortis’s quarterly earnings, dividend announcements, regulatory updates, and major infrastructure project completions to stay informed about performance drivers and potential catalysts for the stock. |
| Use risk management tools | Utilize stop-loss or trailing stop orders on your brokerage account to protect gains or minimize losses, keeping in mind Fortis’s lower beta for increased portfolio stability. |
| Sell at the right time | Consider taking profits near technical resistance points or if the share price outpaces fundamentals, and reassess your position before ex-dividend dates or anticipated regulatory changes that could affect earnings. |
The latest news about Fortis
Fortis stock has reached fresh annual highs on the TSX, demonstrating robust investor confidence. The stock closed at CAD 68.27 on April 30, 2025, surpassing its previous 52-week high of CAD 67.68 and posting a daily gain of 1.08%. Supported by trading above key short- and long-term moving averages, the trend signals ongoing bullish momentum. These gains also coincide with a positive Relative Strength Index (RSI) around 64, confirming sustained investor interest without entering overbought territory. Low beta at 0.31 further highlights Fortis’ appeal as a low-volatility, defensive utility holding within the Canadian market.
Fortis has announced its next quarterly dividend of CAD 0.615 per share, payable on June 1, 2025. This marks the continuation of its impressive record of 51 consecutive years of dividend increases, most recently raising the rate by 4.2% in Q4 2024. Fortis’s current dividend yield sits at a very attractive 3.52%, a key consideration for Canadian yield-seeking investors, given its eligible tax treatment. The company's management has reaffirmed dividend growth guidance of 4-6% annually through at least 2029, supporting expectations for steadily rising income streams.
Fortis reported strong full-year 2024 financial results, with adjusted EPS up 6% and net earnings reaching USD 1.6 billion. The latest quarter saw net earnings increase to USD 396 million compared to the previous year, while full-year total revenues topped USD 12 billion. Adjusted EPS for 2024 was USD 3.28, reflecting not only growth but also prudent management of capital expenditures (USD 5.2 billion in 2024) fueling a 6% annual rate base increase. These figures provide clear evidence of stable, recurring earnings from regulated Canadian and cross-border utility operations.
Completion of the Wataynikaneyap Transmission Project underscores Fortis’s leadership in sustainable energy infrastructure and Indigenous partnerships in Canada. Connecting 17 remote First Nations communities to Ontario's power grid, the initiative demonstrates a significant commitment to both environmental stewardship and local economic development. This milestone not only strengthens Fortis’s reputation as a socially responsible operator but also aligns with government priorities for Indigenous empowerment and clean energy access in Canada. The project’s success supports Fortis’s continued expansion in transmission infrastructure and climate-resilient assets.
Fortis reaffirmed its ambitious five-year capital plan with a USD 26 billion commitment, targeting critical Canadian growth initiatives. The new plan, increased by USD 1 billion compared to the previous year, anticipates expanding the regulated rate base from USD 39 billion in 2024 to USD 53 billion by 2029—a 6.5% compound annual growth rate. Key investments include renewable gas and LNG infrastructure in British Columbia, grid modernization efforts, and resiliency upgrades to support regional demand and climate adaptation. These forward-looking priorities enhance the long-term growth and stability outlook for Canadian stakeholders and investors, reinforcing Fortis’s role in the nation’s energy transition.
FAQ
What is the latest dividend for Fortis stock?
Fortis currently pays a regular quarterly dividend. The next declared dividend is CAD 0.615 per share, with a payment date of June 1, 2025 (record date: May 16, 2025). Fortis stands out for its impressive record of 51 consecutive years of dividend increases, reflecting its strong commitment to rewarding shareholders. The dividend yield is approximately 3.5%, making the stock particularly attractive to income-oriented investors.
What is the forecast for Fortis stock in 2025, 2026, and 2027?
Based on the current share price of CAD 68.27, the projected end-of-year values are CAD 88.75 for 2025, CAD 102.41 for 2026, and CAD 136.54 for 2027. Fortis benefits from robust fundamentals, a stable regulatory environment, and a solid capital investment plan, all of which support continued growth in the coming years. Its sector leadership and strategic investments in grid modernization add to its positive outlook.
Should I sell my Fortis shares?
Holding onto Fortis shares currently seems sensible given its strong fundamentals and defensive qualities. The company’s consistent track record of dividend growth, stable cash flows from regulated assets, and lower market volatility make it a resilient choice, especially during periods of uncertainty. If you value steady income and long-term growth potential, keeping your position in Fortis could be appropriate based on observable trends.
Are dividends from Fortis stock eligible for favourable tax treatment in Canada?
Yes, Fortis dividends are considered eligible dividends under Canadian tax law, making them subject to preferred tax rates for individual investors. When held in registered accounts such as RRSPs or TFSAs, dividends are received tax-free or tax-deferred. In non-registered accounts, the dividend tax credit helps reduce your effective tax burden, providing an extra advantage for Canadian shareholders.
What is the latest dividend for Fortis stock?
Fortis currently pays a regular quarterly dividend. The next declared dividend is CAD 0.615 per share, with a payment date of June 1, 2025 (record date: May 16, 2025). Fortis stands out for its impressive record of 51 consecutive years of dividend increases, reflecting its strong commitment to rewarding shareholders. The dividend yield is approximately 3.5%, making the stock particularly attractive to income-oriented investors.
What is the forecast for Fortis stock in 2025, 2026, and 2027?
Based on the current share price of CAD 68.27, the projected end-of-year values are CAD 88.75 for 2025, CAD 102.41 for 2026, and CAD 136.54 for 2027. Fortis benefits from robust fundamentals, a stable regulatory environment, and a solid capital investment plan, all of which support continued growth in the coming years. Its sector leadership and strategic investments in grid modernization add to its positive outlook.
Should I sell my Fortis shares?
Holding onto Fortis shares currently seems sensible given its strong fundamentals and defensive qualities. The company’s consistent track record of dividend growth, stable cash flows from regulated assets, and lower market volatility make it a resilient choice, especially during periods of uncertainty. If you value steady income and long-term growth potential, keeping your position in Fortis could be appropriate based on observable trends.
Are dividends from Fortis stock eligible for favourable tax treatment in Canada?
Yes, Fortis dividends are considered eligible dividends under Canadian tax law, making them subject to preferred tax rates for individual investors. When held in registered accounts such as RRSPs or TFSAs, dividends are received tax-free or tax-deferred. In non-registered accounts, the dividend tax credit helps reduce your effective tax burden, providing an extra advantage for Canadian shareholders.
