Fortis Inc (FTS) Set to Announce Earnings on Friday
Fortis Inc (TSE:FTS) will post its quarterly earnings results before the market opens on Friday, July 28th. Analysts expect Fortis to post earnings of $0.55 per share for the quarter.
Fortis Inc (TSE:FTS) traded up 0.36% on Thursday, reaching $44.67. 657,542 shares of the company’s stock traded hands. Fortis Inc has a 52-week low of $39.58 and a 52-week high of $47.06. The stock’s 50 day moving average is $45.21 and its 200 day moving average is $43.71. The firm has a market cap of $18.58 billion and a price-to-earnings ratio of 21.25.
FTS has been the topic of a number of recent research reports. Scotiabank lifted their price objective on shares of Fortis from C$48.00 to C$49.00 and gave the company an “outperform” rating in a report on Monday, April 17th. TD Securities reiterated a “buy” rating and issued a C$48.00 price objective on shares of Fortis in a report on Wednesday, May 3rd. Barclays PLC reiterated an “overweight” rating and issued a C$48.00 price objective on shares of Fortis in a report on Wednesday, March 29th. Finally, CIBC lowered their price objective on shares of Fortis from C$48.00 to C$47.00 in a report on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Fortis currently has an average rating of “Buy” and a consensus target price of C$47.25.
In related news, Director Jamie Roberts sold 4,836 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of C$45.58, for a total value of C$220,424.88. Also, insider Nora Duke sold 33,688 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of C$46.24, for a total transaction of C$1,557,733.12. Insiders sold 93,248 shares of company stock valued at $4,261,335 over the last three months.
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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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