Fortis Inc. (NYSE: FTS) is a leading North American utility company, specializing in the distribution and transmission of electricity and natural gas. With operations across Canada, the U.S., and the Caribbean, Fortis emphasizes reliability, sustainability, and long-term growth.
Key Takeaways:
- Fortis Inc. is expected to show steady growth in its stock price over the next three decades.
- The company’s strong market position and focus on renewable energy are likely to drive long-term value.
- Investors should consider both short-term fluctuations and long-term growth prospects.
Overview of Fortis Inc.
Fortis Inc., based in St. John’s, Newfoundland and Labrador, traces its roots to 1885. Initially a local electric company, it transformed into a holding company in 1987, listing on the TSX as FTS.
Under Stan Marshall’s leadership from 1996 to 2014, Fortis expanded rapidly, acquiring utilities across Canada and internationally. Its assets grew from under $1 billion to $26 billion during this period.
Now a major North American utility, Fortis serves over 3 million customers in Canada, the U.S., and the Caribbean. With assets exceeding $47 billion, it began trading on the NYSE in 2016, cementing its continental presence.
Fortis Inc. Company Profile
| Country | Canada |
| Ticker Symbol | FTS |
| Exchange | NYSE, TSX |
| Founded | 1987 |
| IPO Date | 2016 |
| Industry | Electric Utilities |
| Sector | Utilities |
| Employees | 9,600 |
| CEO | David Hutchens |
| Market Cap (August 21, 2024) | $21.57 billion |
| Website | fortisinc |
Fortis Inc. (FTS) Balance Sheet Analysis
Fortis Inc. (NYSE: FTS) reported a robust balance sheet for 2023, with total assets reaching $65.92 billion, up from $64.25 billion in 2022. The company’s liabilities increased to $42.59 billion, while total equity grew to $23.33 billion.
The utility giant’s capital structure remained strong, with total capitalization of $48.74 billion. Common stock equity stood at $19.88 billion, reflecting the company’s solid shareholder base.
Fortis carried a total debt of $30.03 billion, with net debt at $29.03 billion. The company’s working capital position, though still negative, improved to -$1.94 billion. Tangible book value rose to $6.19 billion.
These figures underscore Fortis Inc.’s continued growth and financial stability in the utility sector. The company’s expanding asset base and equity position demonstrate its ongoing investments and successful expansion strategies in the North American market.
Balance Sheet Data Source: finance.yahoo
Fortis Inc. Stock Price History
Fortis Inc. (NYSE: FTS) had its IPO in the year 2016. The all-time high closing price for Fortis Inc. (NYSE: FTS) was $51.66, reached on April 6, 2022.
As of August 20, 2024, the price of Fortis Inc. stock stands at $43.60.
FTS Stock Price Forecast 2024
As of August 20, 2024, the current price of Fortis Inc. stock stands at $43.60. Our analysis suggests a moderate growth potential for the remainder of the year. We anticipate that the company’s ongoing investments in grid modernization and renewable energy projects will continue to drive investor confidence.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2024 | $37.60 | $47.96 | $57.55 |
For 2024, we project a potential growth of 10% from the current price, with an average price target of $47.96. This growth is supported by Fortis’s strong fundamentals and its ability to navigate regulatory environments effectively.
Fortis Inc. is expected to benefit from increased demand for reliable energy infrastructure in 2024. The company’s strategic focus on expanding its renewable energy portfolio, particularly in wind and solar power, is likely to attract environmentally conscious investors. Additionally, Fortis’s robust risk management practices are expected to provide stability in an uncertain economic climate.
FTS Stock Price Forecast 2025
Moving into 2025, we expect Fortis Inc. to build on its momentum from the previous year. The company’s focus on expanding its renewable energy portfolio and improving operational efficiency is likely to yield positive results.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2025 | $49.76 | $54.74 | $65.69 |
Our forecast for 2025 indicates a potential growth of 14.1% from the 2024 average, reaching an average price of $54.74. This uptick reflects growing investor optimism about Fortis’s long-term strategies and its ability to capitalize on the shift towards cleaner energy sources.
In 2025, Fortis is anticipated to make significant strides in its digital transformation initiatives. The implementation of advanced analytics and AI-driven predictive maintenance is expected to enhance operational efficiency and reduce downtime. Furthermore, the company’s investments in cybersecurity measures are likely to strengthen its resilience against potential threats, boosting investor confidence in its long-term prospects.
FTS Stock Price Forecast 2026
In 2026, we anticipate Fortis Inc. to continue its upward trend, driven by its robust capital investment plan and the increasing importance of reliable energy infrastructure.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2026 | $56.73 | $62.40 | $74.88 |
The projected average price for 2026 is $62.40, representing a 14% increase from the 2025 average. This growth underscores the market’s confidence in Fortis’s ability to execute its strategic initiatives and deliver value to shareholders.
Fortis’s expansion into emerging markets is expected to gain traction in 2026. The company’s expertise in managing diverse utility assets across different regulatory environments positions it well for international growth. Additionally, Fortis’s continued investment in smart grid technologies is anticipated to improve energy distribution efficiency and customer satisfaction, potentially leading to increased market share and revenue growth.
FTS Stock Price Forecast 2027
As we look towards 2027, Fortis Inc. is expected to benefit from its completed capital projects and the growing demand for sustainable energy solutions.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2027 | $64.71 | $71.18 | $85.42 |
Our analysis points to an average price of $71.18 for 2027, marking a 14.1% increase from the previous year. This substantial growth reflects the anticipated positive impact of Fortis’s investments in grid resilience and clean energy technologies.
In 2027, Fortis is projected to reap the benefits of its long-term investments in energy storage technologies. The integration of large-scale battery storage systems with its renewable energy assets is expected to enhance grid stability and unlock new revenue streams. Furthermore, the company’s proactive approach to addressing climate change risks is likely to resonate with socially responsible investors, potentially expanding its shareholder base.
FTS Stock Price Forecast 2028
In 2028, we expect Fortis Inc. to continue its steady ascent, supported by its diversified asset base and strong financial position.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2028 | $73.76 | $81.14 | $97.37 |
The projected average price for 2028 is $81.14, indicating a 14% rise from 2027. This growth is underpinned by Fortis’s consistent operational performance and its ability to adapt to evolving market dynamics.
Fortis’s commitment to innovation is expected to bear fruit in 2028, with the potential commercialization of breakthrough technologies in areas such as hydrogen energy and carbon capture. The company’s partnerships with research institutions and tech startups are anticipated to position it at the forefront of the energy transition. Additionally, Fortis’s strong balance sheet is likely to provide flexibility for strategic acquisitions, further driving growth and market expansion.
FTS Stock Price Forecast 2029
As we approach the end of the decade, Fortis Inc. is poised to reap the benefits of its long-term strategic investments and operational improvements.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2029 | $84.08 | $92.49 | $110.99 |
For 2029, we forecast an average price of $92.49, representing a significant 14% increase from the previous year. This growth reflects the market’s recognition of Fortis’s strong positioning in the evolving energy landscape.
In 2029, Fortis is expected to leverage its expertise in managing complex utility networks to capitalize on the growing trend of electrification in transportation. The company’s investments in electric vehicle charging infrastructure and grid upgrades to support increased electricity demand are anticipated to create new revenue streams. Furthermore, Fortis’s focus on customer-centric innovations, such as personalized energy management solutions, is likely to enhance customer loyalty and potentially lead to improved regulatory outcomes.
FTS Stock Price Forecast 2030
Entering the new decade, Fortis Inc. is expected to maintain its growth momentum, driven by its commitment to sustainable practices and technological advancements.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2030 | $95.85 | $105.44 | $126.53 |
Our analysis suggests an average price of $105.44 for 2030, marking a 14% increase from 2029. This projection takes into account Fortis’s potential to capitalize on emerging opportunities in the energy sector.
By 2030, Fortis is anticipated to have significantly expanded its renewable energy portfolio, potentially becoming a leader in offshore wind power generation. The company’s investments in advanced weather forecasting and grid management technologies are expected to optimize the integration of intermittent renewable sources, enhancing overall system reliability. Additionally, Fortis’s proactive approach to regulatory engagement and stakeholder management is likely to result in favorable policy outcomes, supporting long-term growth prospects.
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FTS Stock Price Forecast 2031
In 2031, we anticipate Fortis Inc. to continue its upward trajectory, bolstered by its strong market position and ongoing operational excellence.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2031 | $109.27 | $120.20 | $144.24 |
The forecast for 2031 points to an average price of $120.20, representing a 14% growth from the previous year. This increase reflects the company’s ability to generate sustained value for its shareholders.
Fortis is expected to make significant strides in microgrid technology by 2031. The company’s investments in community-based energy solutions are anticipated to improve grid resilience and open new market opportunities. Additionally, Fortis’s focus on developing smart city infrastructure could position it as a key partner for municipalities seeking to modernize their energy systems, potentially leading to long-term contracts and stable revenue streams.
FTS Stock Price Forecast 2032
As Fortis Inc. progresses through the early 2030s, we expect its stock price to reflect the company’s continued success in navigating regulatory challenges and capitalizing on growth opportunities.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2032 | $124.57 | $137.03 | $164.44 |
For 2032, our analysis projects an average price of $137.03, indicating a 14% increase from 2031. This growth underscores Fortis’s strong fundamentals and its ability to deliver consistent returns.
By 2032, Fortis is anticipated to have fully integrated artificial intelligence and machine learning into its operations. These technologies are expected to optimize energy distribution, predict maintenance needs, and enhance customer service. The company’s investments in cybersecurity are likely to position it as a trusted provider in an increasingly digital energy landscape, potentially attracting partnerships with tech giants and boosting investor confidence.
FTS Stock Price Forecast 2033
In 2033, Fortis Inc. is expected to benefit from its long-term investments in grid modernization and renewable energy integration.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2033 | $142.01 | $156.21 | $187.45 |
We forecast an average price of $156.21 for 2033, representing a 14% rise from the previous year. This substantial growth reflects the anticipated positive impact of Fortis’s strategic initiatives on its overall valuation.
Fortis’s expansion into green hydrogen production and distribution is expected to gain momentum by 2033. The company’s expertise in managing gas infrastructure could give it a competitive edge in this emerging market. Additionally, Fortis’s investments in advanced energy storage solutions are likely to enhance grid stability and enable higher penetration of renewable energy sources, potentially leading to improved operational efficiency and regulatory support.
FTS Stock Price Forecast 2034
As we move further into the 2030s, Fortis Inc. is poised to leverage its strong market position and operational efficiency to drive continued growth.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2034 | $161.89 | $178.08 | $213.70 |
Our analysis points to an average price of $178.08 for 2034, marking a 14% increase from 2033. This growth is underpinned by Fortis’s ability to adapt to changing market conditions and capitalize on emerging opportunities.
In 2034, Fortis is expected to be at the forefront of implementing quantum computing solutions in the utility sector. These advanced computing capabilities could revolutionize grid management, energy trading, and risk assessment. The company’s ongoing investments in workforce development and reskilling programs are likely to ensure it has the talent needed to leverage these cutting-edge technologies, potentially leading to significant competitive advantages.
FTS Stock Price Forecast 2035
In 2035, we expect Fortis Inc. to continue its upward trend, supported by its diversified asset base and focus on sustainable energy solutions.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2035 | $184.55 | $203.01 | $243.61 |
The projected average price for 2035 is $203.01, indicating a 14% rise from the previous year. This growth reflects the market’s confidence in Fortis’s long-term strategy and its potential for sustained value creation.
By 2035, Fortis is anticipated to have made significant progress in developing and implementing fusion energy technologies. While still in early stages, the company’s investments in this potentially game-changing energy source could position it as an industry leader. Additionally, Fortis’s continued expansion of its renewable energy portfolio, including advanced solar and next-generation wind technologies, is expected to contribute to its strong market position and appeal to environmentally conscious investors.
FTS Stock Price Forecast 2036
As Fortis Inc. approaches the mid-2030s, we anticipate its stock price to reflect the company’s continued success in executing its growth strategy and maintaining operational excellence.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2036 | $210.39 | $231.43 | $277.72 |
For 2036, our forecast suggests an average price of $231.43, representing a 14% increase from 2035. This projection takes into account Fortis’s strong market position and its ability to generate consistent returns for investors.
Fortis is expected to play a pivotal role in the development of smart cities by 2036. The company’s integrated approach to energy management, combining electricity, gas, and data infrastructure, is likely to make it a preferred partner for urban development projects. Furthermore, Fortis’s investments in advanced materials science could lead to breakthroughs in transmission efficiency and grid resilience, potentially reducing costs and improving service reliability.
FTS Stock Price Forecast 2037
In 2037, we expect Fortis Inc. to benefit from its completed capital projects and the growing demand for reliable and sustainable energy infrastructure.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2037 | $239.84 | $263.82 | $316.58 |
Our analysis points to an average price of $263.82 for 2037, marking a 14% rise from the previous year. This substantial growth reflects the anticipated positive impact of Fortis’s investments and strategic initiatives.
By 2037, Fortis is anticipated to have fully embraced the circular economy model in its operations. The company’s initiatives in recycling and repurposing grid components are expected to reduce costs and environmental impact. Additionally, Fortis’s investments in bioenergy and waste-to-energy technologies could open up new revenue streams while addressing growing concerns about waste management, potentially attracting both environmentally conscious investors and customers.
FTS Stock Price Forecast 2038
As we approach the late 2030s, Fortis Inc. is poised to leverage its strong financial position and operational efficiency to drive continued growth.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2038 | $273.42 | $300.76 | $360.91 |
The forecast for 2038 indicates an average price of $300.76, representing a 14% increase from 2037. This growth underscores Fortis’s ability to adapt to evolving market dynamics and capitalize on new opportunities.
In 2038, Fortis is expected to be a leader in implementing blockchain technology for energy trading and grid management. This could enhance transparency, reduce transaction costs, and enable more efficient peer-to-peer energy trading. The company’s focus on developing virtual power plants, aggregating distributed energy resources, is likely to optimize grid performance and create new revenue opportunities, potentially leading to improved financial performance and investor returns.
FTS Stock Price Forecast 2039
In 2039, we expect Fortis Inc. to continue its upward trajectory, driven by its commitment to innovation and sustainable practices.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2039 | $311.70 | $342.87 | $411.44 |
Our analysis projects an average price of $342.87 for 2039, marking a 14% rise from the previous year. This growth reflects the market’s recognition of Fortis’s strong positioning in the energy sector and its potential for long-term value creation.
Fortis’s investments in space-based solar power are expected to start yielding results by 2039. While still an emerging technology, the potential for continuous, weather-independent renewable energy could revolutionize the power sector. Additionally, the company’s advancements in superconducting materials for power transmission could significantly reduce energy losses and increase grid efficiency, potentially leading to improved profitability and regulatory support.
FTS Stock Price Forecast 2040
As we enter the 2040s, Fortis Inc. is expected to maintain its growth momentum, supported by its robust capital investment plan and focus on operational excellence.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2040 | $355.34 | $390.87 | $469.04 |
For 2040, we forecast an average price of $390.87, indicating a 14% increase from 2039. This projection takes into account Fortis’s potential to capitalize on emerging trends in the energy sector and deliver sustained value to shareholders.
By 2040, Fortis is anticipated to have fully integrated quantum sensors into its grid infrastructure, enabling unprecedented levels of real-time monitoring and control. This technology could optimize energy distribution, predict and prevent outages, and enhance overall system reliability. Furthermore, the company’s investments in advanced nuclear technologies, such as small modular reactors, could provide a stable, carbon-free baseload power source, potentially strengthening its market position and appeal to environmentally conscious investors.
FTS Stock Price Forecast 2050
Looking ahead to 2050, we anticipate Fortis Inc. to have solidified its position as a leader in the sustainable energy infrastructure space. The company’s long-term investments in grid modernization, renewable energy integration, and technological advancements are expected to yield significant returns.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2050 | $1000.00 | $1100.00 | $1320.00 |
Our long-term forecast projects an average price of $1100.00 for Fortis Inc. stock in 2050. This represents a remarkable growth of 181% from the 2040 average price, underscoring the company’s potential for sustained long-term value creation.
By 2050, Fortis is expected to be at the forefront of implementing fusion power technologies, potentially revolutionizing the energy sector with abundant, clean power. The company’s investments in advanced AI systems for grid management could enable near-perfect energy distribution efficiency. Additionally, Fortis’s leadership in developing resilient infrastructure to mitigate climate change impacts is likely to position it as a critical player in ensuring energy security, potentially leading to strong government partnerships and stable long-term revenues.
Conclusion
Our comprehensive analysis of Fortis Inc. (NYSE: FTS) stock price forecast from 2024 to 2050 paints a picture of steady and substantial growth. We project the stock to reach an average price of $1100 by 2050, representing a remarkable increase over the 26-year period.
This growth is underpinned by several key factors:
- Fortis’s strong market position in the regulated utility sector
- The company’s focus on sustainable energy solutions and grid modernization
- Consistent operational performance and financial stability
- Strategic investments in emerging technologies and market opportunities
FAQs
1. What is the future of FTS share price?
The future of Fortis Inc. (FTS) share price appears to be positive, with steady growth projected over the coming decades. Our analysis suggests a consistent upward trend from 2024 to 2050, with an estimated Compound Annual Growth Rate (CAGR) of approximately 13.5%.
2. What is the FTS share prediction for 2030?
According to our forecast, the average price for Fortis Inc. (FTS) shares in 2030 is projected to be $105.44. The low price estimate is $95.85, while the high price estimate is $126.53.
3. What is the FTS 10 year outlook?
The 10-year outlook for Fortis Inc. (FTS) from 2024 to 2034 shows significant growth potential. Starting from an average price of $47.96 in 2024, we project the stock to reach an average price of $178.08 by 2034. This represents a growth of approximately 271% over the 10-year period.
4. Is FTS a buy, hold, or sell?
We would characterize Fortis Inc. (FTS) as a “Hold” with a positive bias towards “Buy” for long-term investors. Fortis operates in the regulated utility sector, which typically offers stability and predictable cash flows. This can be attractive for risk-averse investors seeking steady returns.
5. Who are the major competitors of FTS?
Fortis Inc. (NYSE: FTS) major competitors typically include other large utility companies that operate in similar regions or markets. Here are some of the main competitors:
- NextEra Energy, Inc. (NYSE: NEE)
- One of the largest electric utility holding companies in North America, with operations in the United States and Canada. NextEra is heavily invested in renewable energy, particularly wind and solar.
- Duke Energy Corporation (NYSE: DUK)
- A major electric power holding company in the United States, Duke Energy operates across a broad geographic area and has a significant customer base, particularly in the Southeast and Midwest.
- Dominion Energy, Inc. (NYSE: D)
- Dominion Energy provides electricity and natural gas to customers primarily in the eastern United States. It also has a strong presence in the renewable energy sector.
- Eversource Energy (NYSE: ES)
- Eversource operates in the New England region, providing electricity and natural gas distribution. It’s one of the major utility companies in the Northeastern United States.
- Exelon Corporation (NASDAQ: EXC)
- Exelon is one of the largest utility services holding companies in the U.S., with significant operations in electricity generation and distribution. It has a diverse energy mix, including nuclear, natural gas, and renewable sources.
- Canadian Utilities Limited (TSE: CU)
- As a fellow Canadian utility company, Canadian Utilities is a significant competitor, particularly in the Canadian market, where it operates in electricity and natural gas distribution.
- Hydro One Limited (TSE: H)
- Another Canadian competitor, Hydro One, is a major player in Ontario, providing electricity transmission and distribution across the province.
These companies compete with Fortis Inc. in various aspects of the utility business, including market share, regulatory environment, technological innovation, and the transition to renewable energy sources.
Disclaimer:
The stock price predictions provided herein are based on historical data, current market trends, and analysis. However, past performance does not guarantee future results. Stock markets are inherently volatile and subject to numerous economic, political, and market factors that can cause rapid and unpredictable fluctuations in stock prices. The information provided is for educational and informational purposes only and should not be construed as financial advice. It is strongly recommended that you consult with a qualified financial advisor before making any investment decisions. Invest responsibly and consider your individual financial situation, risk tolerance, and investment objectives before acting on any information provided.
