Fortis Inc. (TSE:FTS) Receives C$57.54 Average Price Target from Analysts

Shares of Fortis Inc. (TSE:FTSGet Free Report) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$57.54.

Several research firms recently issued reports on FTS. Bank of America raised their target price on Fortis from C$49.00 to C$50.00 in a research note on Tuesday, January 16th. Scotiabank boosted their target price on Fortis from C$57.00 to C$60.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 24th. CIBC upped their target price on Fortis from C$58.00 to C$59.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. National Bankshares lifted their price target on shares of Fortis from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Fortis from C$53.00 to C$50.00 and set an “underweight” rating for the company in a report on Monday, January 22nd.

Read Our Latest Stock Analysis on FTS

Insider Activity

In related news, Director Brian Slocum bought 1,888 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of C$39.18 per share, with a total value of C$73,971.65. In other news, Director Brian Slocum acquired 1,888 shares of Fortis stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of C$39.18 per share, for a total transaction of C$73,971.65. Also, Director Margarita Dilley bought 960 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average cost of C$38.57 per share, with a total value of C$37,027.20. Over the last ninety days, insiders acquired 2,851 shares of company stock worth $111,115. Insiders own 0.03% of the company’s stock.

Fortis Stock Performance

Shares of FTS stock opened at C$53.79 on Wednesday. The company has a debt-to-equity ratio of 128.76, a quick ratio of 0.36 and a current ratio of 0.68. Fortis has a fifty-two week low of C$49.82 and a fifty-two week high of C$62.00. The company has a market capitalization of C$26.39 billion, a P/E ratio of 17.35, a PEG ratio of 2.80 and a beta of 0.17. The stock has a 50 day moving average price of C$53.47 and a two-hundred day moving average price of C$54.29.

Fortis (TSE:FTSGet Free Report) last posted its quarterly earnings results on Friday, February 9th. The company reported C$0.72 EPS for the quarter, meeting analysts’ consensus estimates of C$0.72. The company had revenue of C$2.89 billion during the quarter, compared to analyst estimates of C$3.22 billion. Fortis had a net margin of 13.66% and a return on equity of 7.41%. Analysts expect that Fortis will post 3.2119403 earnings per share for the current year.

Fortis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 17th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Thursday, May 16th. Fortis’s dividend payout ratio (DPR) is presently 76.13%.

About Fortis

(Get Free Report

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 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.

See Also

Analyst Recommendations for Fortis (TSE:FTS)

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