Fortis Inc (TSE:FTS) Receives C$55.89 Average Target Price from Analysts

Shares of Fortis Inc (TSE:FTS) have received a consensus recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$55.78.

FTS has been the subject of a number of recent research reports. UBS Group lowered their price objective on shares of Fortis from C$62.00 to C$59.00 in a research report on Friday, November 8th. National Bank Financial set a C$54.00 price objective on shares of Fortis and gave the company a “sector perform” rating in a research report on Wednesday. CSFB set a C$54.00 price objective on shares of Fortis and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upped their target price on shares of Fortis from C$56.00 to C$59.00 in a research report on Wednesday, August 21st. Finally, TD Securities decreased their target price on shares of Fortis from C$55.00 to C$54.00 and set a “hold” rating for the company in a research report on Wednesday.

Shares of TSE:FTS traded up C$0.21 during trading on Wednesday, reaching C$52.52. 1,407,184 shares of the company’s stock traded hands, compared to its average volume of 1,166,484. The company has a debt-to-equity ratio of 126.57, a current ratio of 0.56 and a quick ratio of 0.34. Fortis has a 12 month low of C$43.49 and a 12 month high of C$56.94. The company has a 50 day moving average of C$53.47 and a 200-day moving average of C$53.39. The stock has a market capitalization of $22.68 billion and a P/E ratio of 14.45.

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Tuesday, November 19th were given a $0.477 dividend. This is a boost from Fortis’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.91 annualized dividend and a yield of 3.63%. Fortis’s dividend payout ratio is 49.52%.

Fortis Company Profile

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 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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Analyst Recommendations for Fortis (TSE:FTS)

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