Fortis (FTS) Given Buy Rating at Scotiabank
Fortis (NYSE:FTS)‘s stock had its “buy” rating reaffirmed by investment analysts at Scotiabank in a report issued on Monday. They currently have a $51.00 price objective on the utilities provider’s stock. Scotiabank’s price target would suggest a potential upside of 37.32% from the stock’s current price.
Separately, Zacks Investment Research cut shares of Fortis from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.33.
Shares of Fortis (NYSE FTS) traded down $0.25 on Monday, hitting $37.14. 241,700 shares of the stock traded hands, compared to its average volume of 186,533. The firm has a market capitalization of $15,580.00, a PE ratio of 19.17, a PEG ratio of 3.45 and a beta of 0.43. Fortis has a 1-year low of $30.00 and a 1-year high of $38.24. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.52 and a quick ratio of 0.43.
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Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizonas Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.
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