Fortis Inc (TSE:FTS) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is C$49.00.
A number of brokerages have weighed in on FTS. JPMorgan Chase & Co. boosted their target price on shares of Fortis from C$48.00 to C$49.00 in a research note on Monday, November 13th. Royal Bank of Canada boosted their target price on shares of Fortis from C$51.00 to C$53.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. Scotiabank boosted their target price on shares of Fortis from C$50.00 to C$51.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. CIBC boosted their target price on shares of Fortis from C$48.00 to C$49.00 in a research note on Tuesday, October 17th. Finally, National Bank Financial reiterated a “sector perform” rating and set a C$49.00 target price (up from C$48.00) on shares of Fortis in a research note on Tuesday, October 17th.
In other news, Director Jamie Roberts sold 1,569 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of C$48.11, for a total transaction of C$75,484.59. Also, insider Earl Ludlow sold 35,056 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of C$46.45, for a total transaction of C$1,628,351.20.
Shares of Fortis (TSE:FTS) traded down C$0.07 on Monday, reaching C$46.11. 413,195 shares of the company’s stock were exchanged, compared to its average volume of 821,142. The stock has a market cap of $19,350.00, a price-to-earnings ratio of 18.52 and a beta of 0.01. Fortis has a 1-year low of C$40.59 and a 1-year high of C$48.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Wednesday, February 14th. Fortis’s payout ratio is 63.25%.
ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/01/fortis-inc-fts-receives-consensus-rating-of-buy-from-brokerages.html.
Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.
Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.