TD Securities set a C$74.00 price target on Fortis (TSE:FTS - Free Report) in a research report report published on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.
Several other analysts also recently weighed in on FTS. UBS Group boosted their price objective on Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Jefferies Financial Group boosted their target price on Fortis from C$67.00 to C$70.00 in a research note on Monday, April 14th. Scotiabank boosted their target price on Fortis from C$66.00 to C$70.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Royal Bank Of Canada boosted their target price on Fortis from C$69.00 to C$72.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Finally, Raymond James Financial reduced their target price on 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$65.14.
Check Out Our Latest Stock Analysis on Fortis
Fortis Trading Up 0.6%
FTS stock traded up C$0.38 during midday trading on Friday, hitting C$65.02. The company had a trading volume of 999,196 shares, compared to its average volume of 1,739,819. 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 52 week low of C$52.68 and a 52 week high of C$69.24. The stock's 50 day moving average price is C$66.10 and its 200 day moving average price is C$63.73. The stock has a market cap of C$32.17 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 3.01 and a beta of 0.23.
Fortis Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Sunday, June 1st were given a $0.615 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.46 annualized dividend and a yield of 3.78%. Fortis's dividend payout ratio (DPR) is presently 73.02%.
About Fortis
(
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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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