Fortis Inc (FTS) Insider David Bennett Acquires 13,401 Shares
Fortis Inc (TSE:FTS) insider David Bennett purchased 13,401 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was bought at an average cost of C$45.99 per share, for a total transaction of C$616,311.99.
Fortis Inc (TSE:FTS) traded up 0.02% during mid-day trading on Monday, hitting $45.80. 680,325 shares of the stock traded hands. The stock’s 50 day moving average is $44.64 and its 200-day moving average is $42.87. The company has a market cap of $19.05 billion and a price-to-earnings ratio of 21.79. Fortis Inc has a 12 month low of $39.58 and a 12 month high of $46.13.
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FTS has been the topic of a number of research reports. TD Securities reaffirmed a “buy” rating and issued a C$48.00 price target on shares of Fortis in a research note on Friday, March 3rd. Barclays PLC reissued an “overweight” rating and issued a C$48.00 target price on shares of Fortis in a research note on Wednesday, March 29th. Scotiabank raised their target price on shares of Fortis from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. J P Morgan Chase & Co reissued a “neutral” rating and issued a C$44.00 target price on shares of Fortis in a research note on Monday, February 27th. Finally, CIBC decreased their target price on shares of Fortis from C$48.00 to C$47.00 in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of C$48.10.
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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