Fortis Inc. (TSE:FTS) Receives C$65.14 Consensus PT from Analysts

Fortis Inc. (TSE:FTS - Get Free Report) has been assigned an average rating of "Hold" from the nine research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$65.14.

A number of brokerages have recently commented on FTS. UBS Group upped their price objective on shares of Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Royal Bank Of Canada upped their price objective on shares of Fortis from C$69.00 to C$72.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Jefferies Financial Group upped their price objective on shares of Fortis from C$67.00 to C$70.00 in a research report on Monday, April 14th. Scotiabank upped their price objective on shares of Fortis from C$66.00 to C$70.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Finally, Raymond James Financial lowered their target price on shares of Fortis from C$69.00 to C$62.50 and set a "market perform" rating on the stock in a research note on Thursday, April 17th.

Fortis Stock Performance

Fortis stock traded down C$0.16 on Tuesday, reaching C$63.92. 23,791 shares of the stock were exchanged, compared to its average volume of 1,692,700. The stock has a market cap of C$31.62 billion, a PE ratio of 18.97, a PEG ratio of 3.01 and a beta of 0.23. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. Fortis has a twelve month low of C$53.65 and a twelve month high of C$69.24. The firm has a fifty day moving average price of C$65.70 and a two-hundred day moving average price of C$63.93.

Fortis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Sunday, June 1st were given a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Friday, May 16th. Fortis's dividend payout ratio is 73.02%.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.