CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
FTS reported Q1 EPS of CAD0.99 vs. CAD1.00 in the prior year, narrowly missing consensus expectations of CAD1.00, reflecting rate base growth offset by weaker wholesale market conditions at UNS Energy, foreign exchange headwinds, and a CAD0.02 dilution from recent dispositions. Revenue increased 2% to CAD3.4B driven by higher flow-through costs at Central Hudson and rate base growth, while operating income remained flat at CAD955M as expense growth matched revenue gains. FTS reaffirmed 4%-6% annual dividend growth guidance through 2030. While not the fastest growth in the sector, we view the measured strategy as reliable and executable given the company's low-risk, highly regulated utility portfolio. The company maintains its CAD28.8B 2026-2030 capital plan supporting 7% rate base CAGR growth to CAD57.9B by 2030, with major projects progressing, including ITC's Big Cedar data center expansion and TEP's Springerville coal-to-gas conversion. Shares currently yield 3.3%.