Fortis (TSE:FTS - Get Free Report) was upgraded by equities research analysts at Desjardins from a "hold" rating to a "moderate buy" rating in a report issued on Tuesday, August 5th, MarketBeat reports. The brokerage currently has a C$76.00 price target on the stock, up from their previous price target of C$71.00. Desjardins' price target indicates a potential upside of 9.15% from the company's current price. Desjardins also issued estimates for Fortis' FY2025 earnings at $3.47 EPS, FY2026 earnings at $3.65 EPS and FY2027 earnings at $3.92 EPS.
Other research analysts have also recently issued research reports about the company. National Bankshares raised their price target on Fortis from C$65.00 to C$67.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 5th. CIBC raised their price objective on Fortis from C$68.00 to C$69.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Cibc World Mkts raised Fortis from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 21st. Scotiabank raised their price objective 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. Finally, Jefferies Financial Group raised their price objective on Fortis from C$67.00 to C$70.00 in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fortis has an average rating of "Hold" and a consensus target price of C$68.82.
Get Our Latest Stock Analysis on FTS
Fortis Price Performance
Shares of TSE FTS traded down C$0.19 during mid-day trading on Tuesday, reaching C$69.63. The company had a trading volume of 763,684 shares, compared to its average volume of 1,632,476. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. Fortis has a one year low of C$57.98 and a one year high of C$70.96. The firm has a market cap of C$34.45 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 3.01 and a beta of 0.23. The business's 50-day simple moving average is C$65.79 and its 200 day simple moving average is C$65.12.
Fortis Company Profile
(
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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.
Further Reading

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