Fortis (FTS) – Analysts’ Recent Ratings Updates
A number of firms have modified their ratings and price targets on shares of Fortis (TSE: FTS) recently:
- 8/3/2017 – Fortis was downgraded by analysts at CIBC from an “outperform” rating to a “neutral” rating. They now have a C$48.00 price target on the stock, up previously from C$47.00.
- 7/31/2017 – Fortis had its “outperform” rating reaffirmed by analysts at Scotiabank. They now have a C$50.00 price target on the stock.
- 7/31/2017 – Fortis had its price target raised by analysts at TD Securities from C$48.00 to C$51.00. They now have a “buy” rating on the stock.
- 7/31/2017 – Fortis had its price target lowered by analysts at Royal Bank Of Canada from C$52.00 to C$51.00. They now have an “outperform” rating on the stock.
- 7/21/2017 – Fortis had its price target raised by analysts at Barclays PLC from C$37.00 to C$40.00. They now have an “overweight” rating on the stock.
Shares of Fortis Inc (FTS) opened at 45.95 on Friday. The firm has a market capitalization of $19.20 billion and a PE ratio of 19.80. Fortis Inc has a 52-week low of $39.58 and a 52-week high of $47.06. The company has a 50-day moving average price of $45.27 and a 200 day moving average price of $44.03.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Thursday, August 17th.
In other news, insider Nora Duke sold 33,688 shares of Fortis stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of C$46.24, for a total value of C$1,557,733.12. Also, insider Karl W. Smith sold 54,024 shares of Fortis stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of C$45.53, for a total transaction of C$2,459,712.72. Insiders sold 93,248 shares of company stock valued at $4,261,335 in the last quarter.
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizonas Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.
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