The Globe and Mail reports in its Thursday edition that Fortis may be a stock that can help weather 2026 turbulence. The Globe's regular guest columnist Gordon Pape writes that he originally recommended buying Fortis on Aug. 15, 2005, when it was trading at $20.80. Fortis is a regulated utility that focuses on electricity and natural gas distribution. It has operations in Canada, the U.S. and the Caribbean. The company had $73-billion in assets at the end of 2024. It has about 9,700 employees. Fortis reported third quarter net earnings attributable to common equity shareholders of $409-million (81 cents a share). Adjusted net earnings per share were 87 cents, up from 85 cents in the third quarter of 2024. On a year-to-date basis and excluding the impact of the disposition of FortisTCI, net earnings increased by $114-million, or 18 cents a share, compared with the same period in 2024. The shares yield 3.6 per cent at the current price. Fortis offers steady, sustainable cash flow. Plus, interest-rate declines tend to push its share prices higher. Unless inflation surges in 2026, Mr. Pape thinks we are likely to see more interest-rate cuts, led by a new-look Federal Reserve Board with a Trump-appointed chair.
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