Fortis Inc (TSE:FTS)‘s stock had its “outperform” rating restated by Scotiabank in a research note issued to investors on Wednesday, reports. They presently have a C$48.00 price objective on the stock. Scotiabank’s price target suggests a potential upside of 18.34% from the company’s current price.

Several other research analysts have also recently issued reports on the company. CIBC raised their target price on Fortis from C$44.00 to C$47.00 in a research report on Wednesday, September 28th. Raymond James Financial Inc. reissued an “outperform” rating and issued a C$50.00 target price on shares of Fortis in a research report on Thursday, September 22nd. Royal Bank Of Canada raised their target price on Fortis from C$48.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. TD Securities raised their target price on Fortis from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, CSFB raised their price objective on Fortis from C$42.00 to C$46.00 in a research note on Monday, July 25th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$46.60.

Analyst Recommendations for Fortis (TSE:FTS)

Fortis (TSE:FTS) traded up 1.58% during trading on Wednesday, reaching $41.20. 779,182 shares of the company’s stock were exchanged. The stock has a market cap of $11.72 billion and a PE ratio of 20.97. Fortis has a 12 month low of $35.51 and a 12 month high of $44.87. The firm has a 50 day moving average of $41.67 and a 200-day moving average of $41.64.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at

The firm 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.94%. This is an increase from Fortis’s previous quarterly dividend of $0.38.

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.

Stock Target Prices

Receive News & Ratings for Fortis Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis Inc and related companies with's FREE daily email newsletter.