Fortis Inc (FTS) PT Set at C$46.00 by Desjardins
Fortis Inc (TSE:FTS) has been given a C$46.00 target price by stock analysts at Desjardins in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 12.61% from the stock’s current price.
FTS has been the topic of a number of other reports. Raymond James Financial Inc. reissued an “outperform” rating and set a C$50.00 price target on shares of Fortis in a research report on Thursday, September 22nd. Royal Bank Of Canada lifted their price target on shares of Fortis from C$48.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. CIBC lifted their price target on shares of Fortis from C$44.00 to C$47.00 in a research report on Wednesday, September 28th. Scotiabank reissued an “outperform” rating and set a C$48.00 price target on shares of Fortis in a research report on Wednesday, October 12th. Finally, TD Securities lifted their price target on shares of Fortis from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of C$46.80.
Fortis (TSE:FTS) traded down 0.81% during trading on Thursday, reaching $40.52. 334,551 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $41.95 and a 200-day moving average price of $42.11. Fortis has a 12 month low of $35.51 and a 12 month high of $44.87. The firm has a market cap of $16.20 billion and a PE ratio of 21.62.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This is a boost from Fortis’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 3.92%.
Fortis Company Profile
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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