Fortis Inc (FTS) Given Consensus Rating of “Buy” by Brokerages
Fortis Inc (TSE:FTS) has been assigned a consensus rating of “Buy” from the ten brokerages that are currently covering the firm. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$46.80.
Several equities analysts have commented on FTS shares. Scotiabank raised their price target on shares of Fortis from C$46.00 to C$48.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. TD Securities raised their price target on shares of Fortis from C$49.00 to C$50.00 and gave the company a “buy” rating in a research report on Monday, November 7th. Royal Bank Of Canada raised their price target on shares of Fortis from C$48.00 to C$52.00 and gave the company an “outperform” rating in a research report on Wednesday, August 3rd. CIBC lifted their price objective on shares of Fortis from C$44.00 to C$47.00 in a research report on Wednesday, September 28th. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and set a C$50.00 price objective on shares of Fortis in a research report on Thursday, September 22nd.
Shares of Fortis (TSE:FTS) opened at 40.59 on Tuesday. Fortis has a 12 month low of $35.51 and a 12 month high of $44.87. The firm’s 50-day moving average price is $41.94 and its 200 day moving average price is $42.11. The firm has a market capitalization of $16.23 billion and a P/E ratio of 21.66.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be given a $0.40 dividend. 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 dividend on an annualized basis and a yield of 3.94%.
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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