Fortis (TSE:FTS) Shares Break Above 200 Day Moving Average - What's Next?

Key Points

• Fortis shares broke above their 200-day moving average, reaching C$78.98 and closing at C$78.65, compared with the moving average of C$78.09.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of C$79.23. Recent targets ranged from C$76 at Barclays to C$85 at Desjardins.
• Fortis reported quarterly EPS of C$0.78 on C$2.93 billion in revenue and declared a quarterly dividend of C$0.64, equivalent to an annualized C$2.56 dividend and a 3.3% yield.

Fortis Inc. (TSE:FTS - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$78.09 and traded as high as C$78.98. Fortis shares last traded at C$78.65, with a volume of 1,833,560 shares.

Analysts Set New Price Targets

FTS has been the topic of a number of recent analyst reports. Barclays decreased their target price on shares of Fortis from C$82.00 to C$76.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 30th. Canadian Imperial Bank of Commerce lowered their price target on shares of Fortis from C$82.00 to C$78.00 in a report on Tuesday, September 22nd. Finally, Desjardins upped their price target on shares of Fortis from C$81.00 to C$85.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Fortis currently has an average rating of "Moderate Buy" and a consensus target price of C$79.23.

Fortis Stock Performance

The firm has a market capitalization of C$40.18 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 3.01 and a beta of 0.34. The company has a debt-to-equity ratio of 143.60, a quick ratio of 0.36 and a current ratio of 0.56. The business's fifty day simple moving average is C$76.36 and its 200-day simple moving average is C$78.09.

Fortis (TSE:FTS - Get Free Report) last released its earnings results on Friday, July 31st. The company reported C$0.78 EPS for the quarter. Fortis had a net margin of 14.72% and a return on equity of 7.43%. The firm had revenue of C$2.93 billion for the quarter. As a group, equities research analysts expect that Fortis Inc. will post 3.34 EPS for the current year.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, September 1st were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Wednesday, August 19th. Fortis's payout ratio is currently 74.56%.

Fortis Company Profile

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation's 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.

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