Raymond James Financial Upgrades Fortis (TSE:FTS) to "Outperform"

Fortis (TSE:FTS - Get Free Report) was upgraded by stock analysts at Raymond James Financial from a "market perform" rating to an "outperform" rating in a research report issued on Tuesday, July 22nd, MarketBeat Ratings reports. Raymond James Financial also issued estimates for Fortis' FY2025 earnings at $3.49 EPS.

Several other research analysts have also recently issued reports on the stock. Cibc World Mkts raised shares of Fortis from a "hold" rating to a "strong-buy" rating in a report on Monday, July 21st. Scotiabank boosted their price target on Fortis from C$66.00 to C$70.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. CIBC increased their price target on Fortis from C$68.00 to C$69.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. TD Securities set a C$74.00 price objective on Fortis and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Royal Bank Of Canada increased their price objective on shares of Fortis from C$69.00 to C$72.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$66.35.

Fortis Stock Up 1.2%

Shares of FTS traded up C$0.80 during mid-day trading on Tuesday, hitting C$67.22. 1,835,377 shares of the company traded hands, compared to its average volume of 1,657,192. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31. Fortis has a 1-year low of C$56.73 and a 1-year high of C$69.24. The company has a market capitalization of C$33.25 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. The business has a 50 day moving average of C$65.33 and a 200 day moving average of C$64.50.

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.