Fortis Inc. (FTS) Stock Price & How to Invest

Fortis Inc. is a St. John's, Newfoundland-based utility holding company that owns 10 regulated electric and gas businesses serving roughly 3.5 million customers across Canada, the United States, and the Caribbean. Its largest platforms include ITC Holdings (U.S. electricity transmission, ~80% owned), UNS Energy (Tucson Electric Power and other Arizona utilities), Central Hudson in New York, and FortisBC in British Columbia. About 99% of assets are regulated, which means earnings come largely from rate-base returns approved by regulators rather than from commodity prices or competition, giving the business unusually predictable cash flows.

The investment picture is that of a defensive, income-oriented holding. Fortis funds a large multi-year capital plan (~CAD 28.8 billion for 2026-2030) to grow its rate base from roughly CAD 42.4 billion in 2025 to about CAD 57.9 billion by 2030, an annual growth rate near 7%, which underpins guidance for 4% to 6% annual dividend increases through 2030. Results in 2026 have tracked that slow-and-steady path: Q2 2026 net earnings were about CAD 396 million and EPS of $0.56 edged past the $0.54 estimate, after Q1 earnings of about CAD 501 million. Trailing revenue is about CAD 12.4 billion with net income near CAD 1.7 billion. The NYSE shares closed at $55.47 on October 16, 2026, up 6.9% year to date and 7.9% over one year. Fortis will report Q3 results and a new five-year capital outlook on November 3, 2026, which will replace the current plan and reset the rate-base growth math. The stock trades at a premium utility valuation and offers a moderate yield, so the trade-off is stability and dividend reliability against limited upside and sensitivity to interest rates and regulatory decisions.

As a capital-intensive utility, Fortis carries substantial debt (about CAD 36 billion as of mid-2026) and is sensitive to interest rates; higher rates raise financing costs and make its dividend yield less attractive relative to bonds, which can pressure the share price. Its capital program also runs ahead of operating cash flow, so free cash flow is negative and the gap is funded with new debt, such as the fixed-to-fixed rate junior subordinated notes priced in September 2026, or equity. Earnings depend on regulators approving allowed returns and cost recovery, so adverse rate-case outcomes are a real risk. A large portion of assets and earnings are in U.S. dollars, adding currency translation exposure for Canadian reporting. A larger new capital plan in November could mean more equity issuance that may dilute shareholders or add leverage. Growth is inherently modest (analysts see 2026 EPS roughly flat before about 7% growth in 2027), so the stock can lag in strong bull markets and is best viewed as a defensive rather than high-return holding.

We give no verdict on Fortis Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Rate-base growth engine. The ~CAD 28.8 billion 2026-2030 capital plan is expected to grow the rate base from ~CAD 42.4 billion to ~CAD 57.9 billion, roughly 7% annually.

The case against. As a capital-intensive utility, Fortis carries substantial debt (about CAD 36 billion as of mid-2026) and is sensitive to interest rates; higher rates raise financing costs and make its dividend yield less attractive relative to bonds, which can pressure the share price.

Read the full bull and bear case on FTS, including what would have to change to break either one. Walnut is not an investment adviser.

No. Fortis Inc. (FTS) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Fortis Inc.'s investor relations page or your broker.

• Market cap: ~$28B USD (NYSE price ~$55.47)
• Revenue (TTM): ~CAD 12.4B (Q2 2026 up ~4% y/y)
• Net income (TTM): ~CAD 1.7B
• Q2 2026 net earnings: ~CAD 396M (EPS $0.56 vs $0.54 est.)
• P/E ratio: ~23x trailing, ~20x forward
• Dividend yield: ~3.4% (payout ~75%)
• 2026-2030 capital plan: ~CAD 28.8B (new plan due Nov 3, 2026)

Fortis trades at about 23 times trailing and 20 times forward earnings, with EV/EBITDA near 12x, still a premium utility multiple that prices in regulated, predictable cash flows and a five-decade dividend-growth record. Reported figures are in Canadian dollars; the NYSE price and market cap are in U.S. dollars. Consensus for the November 3 Q3 report is about $0.64 of EPS, and the valuation leaves limited room for multiple expansion, so returns lean on earnings and dividend growth rather than re-rating.

Other names that sit close to FTS: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get FTS exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so FTS sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where FTS fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Fortis is a blue-chip regulated utility whose appeal rests on predictable rate-base growth, a dividend-increase record of more than five decades, and low volatility, with interest rates and regulatory outcomes as the main swing factors. The next marker is November 3, 2026, when it reports Q3 results and rolls out a new five-year capital outlook.

Whether FTS is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is FTS a buy or a sell?, and where the stock could go from here in the FTS stock forecast.

For income investors, whether FTS pays a dividend and how the payout looks is covered in does FTS pay a dividend? And to weigh FTS against a peer, read the full side-by-side comparisons: FTS vs NI and FTS vs XEL.