Fortis Inc. (TSE:FTS) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Fortis Inc. has received a consensus recommendation of "Hold" from ten brokerages, with two sell, five hold, two buy, and one strong buy ratings.
• The average 12-month price target for Fortis stock among analysts is C$68.82, with TD Securities raising their target to C$77.00 and maintaining a "buy" rating.
• Fortis has announced a quarterly dividend of $0.615, with a dividend yield of 3.6% and an annualized payout of $2.46.

Shares of Fortis Inc. (TSE:FTS - Get Free Report) have been assigned a consensus rating of "Hold" from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$68.82.

A number of research analysts have weighed in on the stock. TD Securities lifted their price target on shares of Fortis from C$74.00 to C$77.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Scotiabank boosted their target price on shares of Fortis from C$66.00 to C$70.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Raymond James Financial upped their price objective on shares of Fortis from C$69.00 to C$72.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. 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 report on Thursday, May 8th. Finally, Cibc World Mkts raised shares of Fortis from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 21st.

Fortis Stock Down 1.0%

Shares of TSE:FTS opened at C$68.90 on Wednesday. The company has a 50 day moving average of C$66.81 and a 200-day moving average of C$65.70. Fortis has a one year low of C$57.98 and a one year high of C$71.02. The stock has a market cap of C$34.09 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36.

Fortis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Monday, September 1st will be issued a $0.615 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 3.6%. 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.

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