Desjardins reiterated their buy rating on shares of Fortis Inc (TSE:FTS) in a research note released on Thursday. They currently have a C$46.00 price objective on the stock.

Several other research firms have also commented on FTS. Scotiabank increased their price objective on shares of Fortis from C$46.00 to C$48.00 and gave the company an outperform rating in a research note on Tuesday, August 2nd. TD Securities increased their price objective on shares of Fortis from C$49.00 to C$50.00 and gave the company a buy rating in a research note on Monday, November 7th. Royal Bank Of Canada increased their price objective on shares of Fortis from C$48.00 to C$52.00 and gave the company an outperform rating in a research note on Wednesday, August 3rd. CIBC increased their price objective on shares of Fortis from C$44.00 to C$47.00 in a research note on Wednesday, September 28th. Finally, Raymond James Financial Inc. reiterated an outperform rating and issued a C$50.00 price objective on shares of Fortis in a research note on Thursday, September 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of C$46.80.

Analyst Recommendations for Fortis (TSE:FTS)

Shares of Fortis (TSE:FTS) opened at 40.93 on Thursday. Fortis has a 52 week low of $35.51 and a 52 week high of $44.87. The company has a 50 day moving average price of $41.96 and a 200 day moving average price of $42.13. The company has a market capitalization of $16.36 billion and a PE ratio of 21.84.

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The firm 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. The ex-dividend date of this dividend is Wednesday, November 16th. This is an increase from Fortis’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 3.91%.

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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