UBS Group Trims Fortis (TSE:FTS) Target Price to C$53.00

Fortis (TSE:FTS – Get Rating) had its target price decreased by analysts at UBS Group from C$54.00 to C$53.00 in a research note issued on Friday, BayStreet.CA reports. UBS Group’s target price points to a potential downside of 7.70% from the company’s current price.

FTS has been the topic of a number of other reports. Bank of America upped their price target on shares of Fortis from C$51.00 to C$52.00 in a report on Friday, March 24th. Raymond James increased their price target on shares of Fortis from C$58.00 to C$65.00 in a research report on Thursday, May 4th. CSFB upped their price objective on shares of Fortis from C$61.00 to C$62.00 in a report on Wednesday, March 15th. Susquehanna Bancshares increased their price target on shares of Fortis from C$56.00 to C$57.00 in a report on Thursday, May 4th. Finally, TD Securities increased their price target on shares of Fortis from C$63.00 to C$66.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$58.65.

Fortis Stock Down 1.4 %

Shares of TSE FTS traded down C$0.84 on Friday, reaching C$57.42. 103,967 shares of the company’s stock traded hands, compared to its average volume of 1,955,531. Fortis has a 12 month low of C$48.45 and a 12 month high of C$64.94. The business’s 50 day simple moving average is C$58.96 and its two-hundred day simple moving average is C$56.15. The company has a market cap of C$27.82 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 3.10 and a beta of 0.17. The company has a quick ratio of 0.36, a current ratio of 0.68 and a debt-to-equity ratio of 127.94.

About Fortis

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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.