Fortis Inc Dossier
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SectorUtilities IndustryMulti-Utilities Beta (adjusted)0.61 Intrinsic Value $35.94median of 6 methods · middle span $30-$40based on filings through 31 Dec 2025 Market Price $52.74Price as of 1 Oct 2026 OvervaluedIntrinsic value is 32% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $26.9B Enterprise Value $60.4B Shares Outstanding 503.7M diluted Moat Rating None Next Earnings Date6 Nov 2026 Last ex-dividend19 Aug 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Fortis offers comparatively visible regulated-utility growth through its C$28.8 billion 2026-2030 capital plan, targeted 7% rate-base CAGR, and 4%-6% dividend-growth guidance. First-half 2026 capital deployment remained consistent with the annual plan, while approval of Tilbury Phase 1B and identified transmission opportunities provide potential upside beyond the current plan. These merits are balanced by project execution, regulatory, financing-cost, foreign-exchange, and equity-dilution risks. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$50.00 Mean target$55.00 High · most bullish analyst$60.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $50.0020% Permitting or construction delays, capital-cost pressure, regulatory lag, higher holding-company financing costs, adverse foreign exchange, or continued share issuance cause rate-base and per-share growth to fall below plan. Dividend growth consequently falls below the lower end of guidance. Base CaseCentral scenario $55.0055% Matches the consensus meanFortis substantially executes its C$28.8 billion 2026-2030 plan, increases midyear rate base from C$42.4 billion in 2025 to approximately C$57.9 billion in 2030, and maintains annual dividend growth within the guided 4%-6% range. Bull CaseUpside scenario $60.0025% Tilbury Phase 1B, additional U.S. transmission investment, grid-resiliency projects, and accelerating load growth expand the next capital plan beyond its current C$28.8 billion base. Timely regulatory recovery and disciplined execution sustain rate-base growth above the current 7% target and support dividend growth near the upper end of the 4%-6% range. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |