Fortis Inc (FTS) Given Average Rating of “Buy” by Analysts
Fortis Inc (TSE:FTS) has been given a consensus recommendation of “Buy” by the ten brokerages that are currently covering the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$47.89.
Several equities research analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating and set a C$49.00 price target on shares of Fortis in a research report on Wednesday, May 3rd. CIBC reduced their price target on shares of Fortis from C$48.00 to C$47.00 in a research report on Wednesday, May 3rd. TD Securities reissued a “buy” rating and set a C$48.00 price target on shares of Fortis in a research report on Wednesday, May 3rd. Barclays PLC reissued an “overweight” rating and set a C$48.00 price target on shares of Fortis in a research report on Wednesday, March 29th. Finally, Desjardins raised their price target on shares of Fortis from C$46.00 to C$48.00 and gave the company a “buy” rating in a research report on Friday, February 17th.
Fortis (TSE:FTS) traded up 0.46% during trading on Friday, hitting $43.66. The stock had a trading volume of 1,136,895 shares. The stock’s 50-day moving average price is $44.31 and its 200-day moving average price is $42.39. The company has a market capitalization of $18.16 billion and a P/E ratio of 20.77. Fortis has a 1-year low of $39.58 and a 1-year high of $45.13.
Fortis Company Profile
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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