Fortis Inc (FTS) Receives Consensus Rating of “Buy” from Analysts
Fortis Inc (TSE:FTS) has received a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$46.60.
Several brokerages have weighed in on FTS. Scotiabank reissued an “outperform” rating and set a C$46.00 price objective on shares of Fortis in a report on Monday, July 4th. TD Securities reissued a “buy” rating and set a C$48.00 price objective on shares of Fortis in a report on Monday, July 4th. BMO Capital Markets raised their price objective on shares of Fortis from C$46.00 to C$49.00 in a report on Thursday, July 7th. CIBC downgraded shares of Fortis from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 20th. Finally, CSFB raised their price target on shares of Fortis from C$42.00 to C$46.00 in a research report on Monday, July 25th.
Shares of Fortis (TSE:FTS) traded up 0.43% during midday trading on Monday, hitting $42.13. 804,727 shares of the stock were exchanged. 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 price of $41.55 and a 200-day moving average price of $41.64. The company has a market cap of $11.99 billion and a PE ratio of 21.44.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be given a $0.40 dividend. This is an increase from Fortis’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 3.78%.
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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