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Fortis - FTS STOCK NEWS

Welcome to our dedicated page for Fortis news (Ticker: FTS), a resource for investors and traders seeking the latest updates and insights on Fortis stock.

Overview of Fortis Inc.

Fortis Inc. operates as a major regulated electric and gas utility company in North America, offering dependable utility distribution and energy transmission services. With a robust portfolio of operating subsidiaries, the company delivers essential services across Canada, the United States, and select Caribbean regions. Its business model is structured around providing stable, regulated energy delivery, establishing a secure and resilient infrastructure for millions of customers.

Core Business Operations

The company owns and operates several key transmission and distribution subsidiaries that manage electric and gas networks. Through these subsidiaries, Fortis maintains an extensive infrastructure including high-voltage transmission lines and regional gas distribution systems, ensuring reliability and safety in service delivery. Additionally, Fortis holds strategic stakes in electricity generation and smaller utilities, expanding its footprint within the broader energy market.

Market Position and Competitive Landscape

Fortis Inc. holds a distinctive position in the utility market by leveraging a diversified geographic presence. Its stable regulatory framework and long-term service contracts enhance predictability in revenue generation compared to market participants in more volatile sectors. Unlike competitors that may rely on fluctuating market conditions, Fortis demonstrates a focus on regulated operations that underpin consistent performance through established infrastructure and operational prudence.

Operational Excellence and Infrastructure

At the heart of Fortis’s operations is its commitment to maintaining and expanding a resilient energy delivery network. The company oversees vast networks of high-voltage transmission and local distribution, ensuring that electric and gas services are delivered efficiently and safely. This operational excellence is supported by a strategic alignment of assets that includes diversified subsidiaries and specialized regional operations.

Regulatory Environment and Business Model

The regulated nature of Fortis’s utilities provides a framework that supports steady revenue through predictable rate structures and stringent compliance measures. Regulatory oversight ensures operational discipline, and the company has developed robust systems to manage rate cases and policy changes. This carefully balanced business model positions Fortis as a reliable service provider in the public utility sphere, emphasizing stable returns over speculative growth.

Industry Insights

  • Regulated Utility Operations: Fortis relies on stable, long-term contracts and regulatory approvals to secure its market positioning.
  • Energy Infrastructure: The company’s comprehensive network of transmission and distribution assets is a key enabler of its operational success.
  • Geographic Diversification: By operating across Canada, the US, and the Caribbean, Fortis mitigates regional risks and leverages varied market dynamics.

The multifaceted structure of Fortis Inc. not only delivers essential utility services but also contributes significantly to the energy sector’s overall stability. The company continuously refines its operational processes to ensure adherence to high safety and service standards, embodying the depth of experience, expertise, authoritativeness, and trust that investors and industry analysts seek in a well-established utility provider.

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Fortis Inc. (FTS) declares dividends payable on March 1, 2024, to Shareholders of Record of various Shares of the Corporation. The dividends are designated as eligible dividends for federal and provincial dividend tax credit purposes.
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Fortis Inc. has announced the completion of the sale of its 93.8% interest in the Aitken Creek Natural Gas Storage Facility and its 100% interest in the Aitken Creek North Gas Storage Facility to a subsidiary of Enbridge Inc. The sale was made for approximately $400 million plus working capital and closing adjustments. The transaction strengthens Fortis' balance sheet and provides funding flexibility for its regulated utility growth strategy.
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Tucson Electric Power (TEP) has filed its 2023 Integrated Resource Plan (IRP) with the Arizona Corporation Commission, outlining its goal of achieving net zero direct greenhouse gas emissions by 2050. TEP plans to add 2,240 MW of wind and solar generation, 1,330 MW of energy storage, and 400 MW of natural gas turbines by 2038. The company aims to achieve an 80% reduction in CO2 emissions by 2035. TEP's new net zero goal will require advancements in technologies and energy-smart behaviors.
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UniSource Energy Services plans to more than double its electric energy resources over the next 15 years. The company aims to add 350 MW of solar and wind resources, 200 MW of natural gas turbines, and 225 MW of energy storage systems by 2038.
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Fortis Inc. released its third quarter results, reporting net earnings of $394 million or $0.81 per common share, up from $326 million or $0.68 per common share in 2022. The company also announced a 2024-2028 capital plan of $25 billion, representing 6.3% average annualized rate base growth.
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Fortis Inc. to release third quarter 2023 financial results
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Tucson Electric Power (TEP) will build a large battery energy storage system in southeast Tucson, with a capacity of 200 MW and 800 MWh, to satisfy customers' energy needs with low-cost solar energy. The system is expected to begin operation in summer 2025. TEP aims to reduce carbon emissions by 80% and add up to 1,400 MW of energy storage by 2035, as per their Integrated Resource Plan. TEP currently has 51 MW of energy storage capacity. The battery system will be designed and built by DEPCOM Power, Inc.
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Fortis Inc. will release its Q3 2023 financial results on October 27, 2023. A teleconference and webcast will be held at 8:30 a.m. (Eastern) with the President and CFO discussing the results. Shareholders and analysts can participate via webcast or toll-free call. Archived webcast available until November 27, 2023.
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Fortis Inc. establishes at-the-market equity program to issue up to C$500,000,000 of common shares from treasury to the public, providing additional financing flexibility for its capital program.
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Fortis Inc. releases 2024-2028 outlook with a capital plan of $25.0 billion, representing 6.3% rate base growth. Fourth quarter common share dividend increasing by 4.4%, marking 50 years of consecutive increases in dividends paid. Annual dividend growth guidance of 4-6% extended to 2028.
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FAQ

What is the current stock price of Fortis (FTS)?

The current stock price of Fortis (FTS) is $48.18 as of April 18, 2025.

What is the market cap of Fortis (FTS)?

The market cap of Fortis (FTS) is approximately 23.3B.

What is the primary business of Fortis Inc.?

Fortis Inc. specializes in providing regulated electric and gas utility services. It operates through multiple subsidiaries that manage transmission and distribution networks in North America and select Caribbean regions.

How does Fortis generate its revenue?

Revenue is primarily generated through regulated utility operations, which include setting rates for energy transmission and distribution services. The company’s business model is built on predictable, long-term service contracts backed by regulatory frameworks.

What regions does Fortis serve?

Fortis serves customers across Canada, the United States, and the Caribbean. Its diversified geographical presence helps mitigate regional risks while ensuring broad market coverage.

How is Fortis structured operationally?

The company operates through several transmission and distribution subsidiaries that collectively manage extensive electric and gas networks. Each subsidiary focuses on regional operations, enabling efficient and reliable service delivery.

What differentiates Fortis from other utility providers?

Fortis stands out due to its diversified operations and its adherence to a stable, regulated environment. Its commitment to robust infrastructure and operational excellence differentiates it from peers in more volatile market segments.

How does the regulatory environment affect Fortis?

The company operates within a regulated framework that ensures predictable revenues and operational discipline. Compliance with stringent regulatory standards supports long-term stability and service reliability.

What type of infrastructure does Fortis maintain?

Fortis maintains an extensive infrastructure that includes high-voltage transmission lines and comprehensive distribution networks for both electricity and gas. This network is critical to its ability to deliver dependable utility services.

How does Fortis manage its market risks?

Through geographic diversification and a focus on regulated operations, Fortis effectively manages market risks. The predictable nature of its regulated utility business helps insulate it from the volatility seen in less regulated sectors.
Fortis

NYSE:FTS

FTS Rankings

FTS Stock Data

23.34B
500.88M
0.11%
56.08%
1.64%
Utilities - Regulated Electric
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