Fortis (TSE:FTS) Price Target Raised to C$90.00

Fortis (TSE:FTS) had its price target boosted by Desjardins from C$85.00 to C$90.00 in a research report sent to investors on Wednesday morning,BayStreet reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on FTS. Canadian Imperial Bank of Commerce reduced their price objective on Fortis from C$82.00 to C$78.00 in a report on Tuesday, September 22nd. TD raised their target price on shares of Fortis from C$87.00 to C$90.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays dropped their price target on Fortis from C$82.00 to C$76.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. BMO Capital Markets lifted their price target on Fortis from C$81.00 to C$85.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, National Bank Financial lifted their target price on Fortis from C$83.00 to C$84.00 and gave the stock a “sector perform” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$81.95.

Fortis Stock Performance

Shares of TSE FTS traded down C$0.88 during trading hours on Wednesday, hitting C$84.91. 2,514,880 shares of the company’s stock were exchanged, compared to its average volume of 1,612,690. The company’s 50-day moving average price is C$77.61 and its 200-day moving average price is C$77.89. The stock has a market capitalization of C$43.80 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 3.01 and a beta of 0.49. The company has a debt-to-equity ratio of 146.51, a current ratio of 0.69 and a quick ratio of 0.36. Fortis has a 1-year low of C$69.06 and a 1-year high of C$86.35.

Fortis (TSE:FTS) last released its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.92 earnings per share (EPS) for the quarter. The business had revenue of C$3.12 billion for the quarter. Fortis had a return on equity of 7.57% and a net margin of 15.04%. On average, sell-side analysts expect that Fortis will post 3.34 earnings per share for the current fiscal year.

Fortis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, December 1st will be issued a dividend of $0.6650 per share. The ex-dividend date is Tuesday, November 17th. This represents a $2.66 dividend on an annualized basis and a yield of 3.1%. This is an increase from Fortis’s previous quarterly dividend of $0.64. Fortis’s dividend payout ratio (DPR) is currently 72.73%.

Insider Buying and Selling at Fortis

In related news, insider James Reid sold 25,000 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of C$85.83, for a total value of C$2,145,750.00. Following the completion of the transaction, the insider directly owned 31,419 shares in the company, valued at C$2,696,692.77. This trade represents a 44.31% decrease in their position. 0.04% of the stock is owned by corporate insiders.

Fortis Company Profile

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation’s 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.