Fortis Inc. (FTS.TO)

Fortis Inc. (FTS-T) is regarded as one of North America's largest regulated gas and electric utilities, recognized for its reliable performance and stable dividend, currently yielding around 2.3% to 3.5%. The company reported strong Q4 earnings, with revenue up 11% year-over-year, and plans to spend $26 billion through 2029 to boost its rate base by approximately 6.5% annually. While opinions on its growth potential vary, many experts like its strong cash flow visibility and effective capital expenditure strategy. However, some analysts suggest that its valuation seems steep, trading around an 18-22x forward P/E ratio, prompting a cautious approach for new investments until prices decline. Fortis remains an attractive long-term hold for dividend-seeking investors, but potential buyers may want to wait for a more opportune entry point below $70.