NAS10029,644+0.67%S&P7,651+0.17%GOLD$4,416+0.37%BTC$81,118+6.17%VIX14.81−4.08%live tape · as of 17:00 UTC
The Screen · Utilities · Utilities - Regulated Electric
Fortis Inc
FTS · the NYSE · USD · Market cap $27.8B · 9,900 employees
Fortis Inc.
FAIL · Does not pass the screen
54.37 USD
At the last full screen 2026-09-11
Screened 2026-09-11 · the tape above runs as of 17:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its distribution label.
Fortis Inc holds its Distribution at $54.37. Elevated stress, defensive posture warranted, held for 3 days.
As held on the ledger · 2026-09-11
Phase
Distribution · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 3 days
Price at the screen
$54.37
Valuation
22.01 trailing · 19.61 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.41
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
46.34%
Below 33%
Interest-bearing debt is 46.3% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
1.58%
Below 49%
Money owed to the company is 1.6% of assets, under the 49% limit.
Pass
Revenue purity
0.35%
Below 5%
Only 0.4% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-11 screen. The gold marker is the market price at the same screen. The price runs 11.2% above the base estimate.
Third-party analyst targets: 2 covering, consensus Hold. The average target sits +1% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-11 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Power bills arrive on time but value does not
Every month the lights stay on across Canadian provinces and parts of Arizona because Fortis keeps the grid running. The business is simple, regulated and ethical, yet it trades at $58.78 while our work puts fair value at $49.01. Revenue inches up just 2 percent a year, profit margins sit at 15 percent and return on equity is only 7 percent, none of which justifies a forward multiple of 21 times.
We pass because the margin of safety is negative 17 percent and two analysts already call the shares a hold with a $56 target. A narrow moat and low single-digit growth leave little room for error at this price. Utilities like this rarely surprise to the upside once the rate base is set.
Interest rate rises hit the sector hard through higher borrowing costs and compressed valuations, while regulators can always trim allowed returns. The ethical screen is clean, but clean does not equal cheap. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Canada and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FTS trades on the NYSE (the company is based in Canada). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-30Markdown · changed$55.07-5.6%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (2 analysts) rates it hold, with a mean price target of $56.
2026-07-30Markup · changed$58.31+2.5%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (2 analysts) rates it hold, with a mean price target of $56.
2026-07-18Distribution$56.91+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (2 analysts) rates it hold, with a mean price target of $56.
2026-07-03Distribution$56.91+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$56.91Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
