Fortis Inc (FTS) Receives C$46.29 Average Target Price from Analysts

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%.

TRADEMARK VIOLATION WARNING: “Fortis Inc (FTS) Receives C$46.29 Average Target Price from Analysts” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/23/fortis-inc-fts-receives-c46-29-average-target-price-from-analysts.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.

Analyst Recommendations for Fortis (TSE:FTS)

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.

Leave a Reply