Fortis Released Its 2025-2029 Outlook, With A Capital Plan Of $26B, $1B Higher Than Prior Plan; 6.5% Average Annual Rate Base Growth Through 2029
Portfolio Pulse from Benzinga Newsdesk
Fortis has released its 2025-2029 outlook, announcing a capital plan of $26 billion, which is $1 billion higher than its previous plan. The company expects a 6.5% average annual rate base growth through 2029.
September 26, 2024 | 10:13 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Fortis has increased its capital plan to $26 billion for 2025-2029, expecting a 6.5% average annual rate base growth. This suggests potential growth in revenues and asset base.
The increase in the capital plan by $1 billion and the projected 6.5% average annual rate base growth indicate Fortis's commitment to expansion and potential revenue growth. This is likely to positively impact the stock price in the short term as investors may view this as a sign of future profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100