National Bank Financial Comments on Fortis Inc’s FY2018 Earnings (FTS)

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%.

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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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