Fortis Upgraded to Outperform at CIBC (FTS)
A number of other analysts have also recently weighed in on FTS. Analysts at RBC Capital raised their price target on shares of Fortis from C$35.00 to C$36.00 in a research note on Tuesday. They now have a “sector perform” rating on the stock. Separately, analysts at Scotiabank reiterated an “outperform” rating on shares of Fortis in a research note on Tuesday, May 20th. They now have a C$38.00 price target on the stock. Finally, analysts at TD Securities raised their price target on shares of Fortis from C$36.00 to C$38.00 in a research note on Friday, May 9th. They now have a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of C$34.43.
Fortis (TSE:FTS) traded up 1.66% on Tuesday, hitting $33.64. 632,471 shares of the company’s stock traded hands. Fortis has a 1-year low of $29.51 and a 1-year high of $33.88. The stock has a 50-day moving average of $32.63 and a 200-day moving average of $31.72. The company has a market cap of $7.216 billion and a price-to-earnings ratio of 20.43.
Fortis (TSE:FTS) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.04. On average, analysts predict that Fortis will post $1.61 earnings per share for the current fiscal year.
The company also recently announced a Quarterly dividend, which is scheduled for Monday, September 1st. Investors of record on Monday, September 1st will be paid a dividend of $0.32 per share. This represents a dividend yield of 3.79%. The ex-dividend date is Wednesday, August 13th.
Fortis Inc (TSE:FTS) is an investor-owned gas and electric distribution utility in Canada.
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