National Bank Financial Weighs in on Fortis Inc’s Q3 2016 Earnings (FTS)
Fortis Inc (TSE:FTS) – National Bank Financial issued their Q3 2016 EPS estimates for shares of Fortis in a report issued on Wednesday. National Bank Financial analyst P. Kenny anticipates that the firm will post earnings per share of $0.54 for the quarter.
FTS has been the topic of several other research reports. CIBC increased their target price on Fortis from C$44.00 to C$47.00 in a report on Wednesday, September 28th. Raymond James Financial Inc. restated an “outperform” rating and set a C$50.00 target price on shares of Fortis in a report on Thursday, September 22nd. TD Securities restated a “buy” rating and set a C$48.00 target price on shares of Fortis in a report on Monday, July 4th. BMO Capital Markets increased their target price on Fortis from C$46.00 to C$49.00 in a report on Thursday, July 7th. Finally, Scotiabank reiterated an “outperform” rating and issued a C$46.00 price target on shares of Fortis in a report on Monday, July 4th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Fortis presently has an average rating of “Buy” and a consensus target price of C$46.60.
Fortis (TSE:FTS) opened at 41.95 on Friday. Fortis has a 1-year low of $35.51 and a 1-year high of $44.87. The firm’s 50-day moving average price is $41.55 and its 200 day moving average price is $41.64. The stock has a market cap of $11.93 billion and a PE ratio of 21.35.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 18th will be paid a $0.40 dividend. This is a positive change from Fortis’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 3.81%.
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd.
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