Shares of Fortis Inc (TSE:FTS) have earned a consensus recommendation of “Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$46.29.
Several analysts have recently commented on the company. Raymond James Financial raised Fortis from a “market perform” rating to an “outperform” rating in a report on Friday, February 9th. Royal Bank of Canada raised their price target on Fortis from C$51.00 to C$53.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Scotiabank raised their price target on Fortis from C$50.00 to C$51.00 and gave the company an “outperform” rating in a report on Monday, November 6th. CIBC raised Fortis from a “neutral” rating to an “outperform” rating in a report on Friday, February 16th. Finally, National Bank Financial cut Fortis from a “sector perform market weight” rating to an “underperform market weight” rating in a report on Sunday, January 28th.
Fortis (FTS) traded down C$0.02 on Tuesday, hitting C$41.66. The stock had a trading volume of 32,828 shares, compared to its average volume of 1,231,839. The firm has a market cap of $17,550.00, a PE ratio of 17.97 and a beta of -0.06. Fortis has a 1-year low of C$39.38 and a 1-year high of C$48.73.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, May 17th. Fortis’s payout ratio is currently 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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