Fortis Inc

FTS: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 17.00	Phcxrx	Qfrhdxy

Fortis Earnings: Busy Regulatory Calendar Continues After Constructive Arizona Decision

Andrew Bischof

Feb 9, 2024

We are maintaining our CAD 58 per share fair value estimate for Fortis after the company reported full-year 2023 adjusted earnings of CAD 3.09 per share compared with CAD 2.78 in the same year-ago period. The company increased its dividend 4.4%, in line with its 4% to 6% dividend growth outlook through 2028. Fortis does not issue earnings guidance.

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