Fortis Inc (FTS) Receives “Outperform” Rating from Scotiabank
A number of other equities analysts have also commented on FTS. TD Securities reissued a buy rating and issued a C$48.00 price objective on shares of Fortis in a research note on Monday, July 4th. BMO Capital Markets boosted their price objective on Fortis from C$46.00 to C$49.00 in a research note on Thursday, July 7th. CSFB boosted their price objective on Fortis from C$42.00 to C$46.00 in a research note on Monday, July 25th. CIBC boosted their price objective on Fortis from C$44.00 to C$47.00 in a research note on Wednesday, September 28th. Finally, Royal Bank Of Canada boosted their price objective on Fortis from C$48.00 to C$52.00 and gave the stock an outperform rating in a research note on Wednesday, August 3rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of C$46.60.
Fortis (TSE:FTS) opened at 42.54 on Wednesday. The company has a 50 day moving average price of $41.56 and a 200-day moving average price of $41.68. The firm has a market cap of $12.10 billion and a price-to-earnings ratio of 21.65. Fortis has a 52-week low of $35.51 and a 52-week high of $44.87.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.76%. This is an increase from Fortis’s previous quarterly dividend of $0.38.
Fortis Company Profile
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd.
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