Fortis Inc (TSE:FTS) – National Bank Financial raised their FY2018 earnings per share (EPS) estimates for Fortis in a research note issued to investors on Thursday. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $2.71 for the year, up from their prior forecast of $2.68. National Bank Financial has a “Sector Perform” rating and a $43.00 price objective on the stock. National Bank Financial also issued estimates for Fortis’ FY2019 earnings at $2.74 EPS.
Several other research firms have also recently issued reports on FTS. CIBC upped their price objective on Fortis from C$49.00 to C$50.00 in a research report on Thursday, January 11th. Royal Bank of Canada upped their price objective on Fortis from C$51.00 to C$53.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. JPMorgan Chase & Co. upped their price objective on Fortis from C$48.00 to C$49.00 in a research report on Monday, November 13th. Scotiabank upped their price objective on Fortis from C$50.00 to C$51.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Finally, Raymond James Financial raised Fortis from a “market perform” rating to an “outperform” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of C$46.75.
Shares of Fortis (TSE FTS) traded down C$0.39 on Monday, hitting C$41.69. The stock had a trading volume of 380,189 shares, compared to its average volume of 1,232,098. Fortis has a 12-month low of C$39.38 and a 12-month high of C$48.73. The company has a market cap of $17,660.00, a PE ratio of 18.04 and a beta of -0.06.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 18th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $1.70 annualized dividend and a dividend yield of 4.08%. Fortis’s payout ratio is 70.04%.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/20/national-bank-financial-comments-on-fortis-incs-fy2018-earnings-fts.html.
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.
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.