National Bank Financial Reiterates “Sector Perform” Rating for Fortis Inc (FTS)
Fortis Inc (TSE:FTS)‘s stock had its “sector perform” rating reaffirmed by equities researchers at National Bank Financial in a research report issued on Tuesday. They currently have a C$49.00 price objective on the stock, up from their previous price objective of C$48.00. National Bank Financial’s price objective indicates a potential upside of 5.58% from the stock’s current price. National Bank Financial also issued estimates for Fortis’ Q3 2017 earnings at $0.64 EPS.
A number of other equities analysts also recently commented on FTS. CIBC downgraded shares of Fortis from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from C$47.00 to C$48.00 in a research note on Thursday, August 3rd. TD Securities boosted their price target on shares of Fortis from C$48.00 to C$51.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Royal Bank Of Canada reduced their price target on shares of Fortis from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research note on Monday, July 31st. Scotiabank reissued an “outperform” rating and issued a C$50.00 price target on shares of Fortis in a research note on Monday, July 31st. Finally, J P Morgan Chase & Co reduced their price target on shares of Fortis from C$46.00 to C$45.00 in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of C$48.22.
Shares of Fortis (TSE FTS) opened at 46.41 on Tuesday. The company has a 50-day moving average of $45.22 and a 200-day moving average of $45.02. The stock has a market capitalization of $19.39 billion and a price-to-earnings ratio of 20.00. Fortis has a 52-week low of $39.58 and a 52-week high of $47.06.
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Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.
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