Fortis Inc (FTS) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Fortis Inc (TSE:FTS) have been given an average rating of “Buy” by the nine analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$47.75.
A number of research firms have recently weighed in on FTS. Scotiabank reiterated an “outperform” rating and set a C$49.00 price target on shares of Fortis in a report on Wednesday, May 3rd. TD Securities reiterated a “buy” rating and set a C$48.00 price target on shares of Fortis in a report on Wednesday, May 3rd. CIBC lowered their price target on Fortis from C$48.00 to C$47.00 in a report on Wednesday, May 3rd. Finally, Barclays PLC reiterated an “overweight” rating and set a C$48.00 price target on shares of Fortis in a report on Wednesday, March 29th.
Fortis (TSE FTS) traded up 0.20% during mid-day trading on Monday, hitting $44.71. The stock had a trading volume of 660,168 shares. The firm’s 50-day moving average price is $45.08 and its 200 day moving average price is $43.26. The company has a market cap of $18.60 billion and a PE ratio of 21.27. Fortis has a one year low of $39.58 and a one year high of $47.06.
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In related news, insider Nora Duke sold 33,688 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of C$46.24, for a total transaction of C$1,557,733.12. Also, insider Karl W. Smith sold 54,024 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of C$45.53, for a total value of C$2,459,712.72. Insiders have sold a total of 93,248 shares of company stock valued at $4,261,335 over the last 90 days.
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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