Fortis Inc. (TSE:FTS) Senior Officer James Reid Buys 1,000 Shares

Fortis Inc. (TSE:FTSGet Rating) Senior Officer James Reid acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was purchased at an average price of C$58.01 per share, with a total value of C$58,013.00. Following the completion of the transaction, the insider now directly owns 15,568 shares of the company’s stock, valued at approximately C$903,146.38.

Shares of FTS opened at C$57.96 on Monday. The firm has a market cap of C$27.65 billion and a price-to-earnings ratio of 22.36. The company has a debt-to-equity ratio of 125.03, a quick ratio of 0.42 and a current ratio of 0.63. Fortis Inc. has a fifty-two week low of C$54.57 and a fifty-two week high of C$65.26. The firm has a 50 day moving average price of C$62.88 and a 200-day moving average price of C$60.84.

Fortis (TSE:FTSGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported C$0.78 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.77 by C$0.01. The business had revenue of C$2.84 billion during the quarter, compared to the consensus estimate of C$2.58 billion. As a group, equities research analysts predict that Fortis Inc. will post 2.9700001 earnings per share for the current year.

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Fortis from C$60.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Thursday, May 5th. Raymond James set a C$58.00 target price on shares of Fortis and gave the company a “market perform” rating in a research report on Thursday, May 5th. Veritas Investment Research upgraded shares of Fortis from a “reduce” rating to a “buy” rating in a research report on Monday, May 9th. National Bankshares lifted their target price on shares of Fortis from C$59.00 to C$60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fortis from C$59.00 to C$63.00 in a research report on Tuesday, April 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Fortis presently has a consensus rating of “Hold” and a consensus target price of C$61.81.

Fortis Company Profile (Get Rating)

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 MV of wind capacity.

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