Fortis Inc (TSE:FTS) – Equities researchers at Desjardins issued their FY2017 earnings per share estimates for Fortis in a research note issued on Wednesday. Desjardins analyst M. Jarvi forecasts that the firm will post earnings of $2.43 per share for the year. Desjardins currently has a “Buy” rating and a $46.00 target price on the stock. Desjardins also issued estimates for Fortis’ FY2018 earnings at $2.53 EPS, FY2019 earnings at $2.64 EPS and FY2020 earnings at $2.75 EPS.

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Earnings History and Estimates for Fortis (TSE:FTS)

FTS has been the subject of several other reports. CIBC raised their target price on shares of 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 issued a C$50.00 target price on shares of Fortis in a report on Thursday, September 22nd. TD Securities raised their target price on shares of Fortis from C$49.00 to C$50.00 and gave the stock a “buy” rating in a report on Monday, November 7th. Scotiabank restated an “outperform” rating and issued a C$48.00 target price on shares of Fortis in a report on Monday, November 7th. Finally, Royal Bank Of Canada raised their target price on shares of Fortis from C$49.00 to C$50.00 and gave the stock a “buy” rating in a report on Monday, November 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$46.80.

Shares of Fortis (TSE:FTS) opened at 40.59 on Monday. The company has a 50 day moving average price of $41.94 and a 200 day moving average price of $42.11. Fortis has a 52 week low of $35.51 and a 52 week high of $44.87. The company has a market capitalization of $16.23 billion and a PE ratio of 21.66.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be paid 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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