Fortis (TSE:FTS) was upgraded by research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a report issued on Friday, February 9th.
FTS has been the subject of a number of other reports. National Bank Financial cut shares of Fortis from a “sector perform market weight” rating to an “underperform market weight” rating in a research report on Sunday, January 28th. CIBC upped their price target on shares of Fortis from C$49.00 to C$50.00 in a research report on Thursday, January 11th. Royal Bank of Canada upped their price target on shares of Fortis from C$51.00 to C$53.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. JPMorgan Chase & Co. upped their price target on shares of Fortis from C$47.00 to C$48.00 in a research report on Thursday, October 19th. Finally, Scotiabank upped their price target on shares of Fortis from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of C$46.89.
Shares of Fortis (FTS) traded up C$1.52 during midday trading on Friday, hitting C$42.08. 2,534,100 shares of the stock traded hands, compared to its average volume of 1,260,000. Fortis has a one year low of C$39.38 and a one year high of C$48.73. The stock has a market cap of $17,720.00, a PE ratio of 18.14 and a beta of -0.06.
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Fortis Company Profile
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.
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