BMO Capital Markets Reiterates C$51.00 Price Target for Fortis Inc (FTS)
Fortis Inc (TSE:FTS) received a C$51.00 target price from equities research analysts at BMO Capital Markets in a research note issued on Friday. BMO Capital Markets’ target price would suggest a potential upside of 14.94% from the stock’s previous close.
FTS has been the topic of a number of other research reports. Royal Bank Of Canada decreased their price objective on Fortis from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research note on Monday, July 31st. Scotiabank reaffirmed an “outperform” rating and set a C$50.00 price objective on shares of Fortis in a research note on Monday, July 31st. CIBC lowered Fortis from an “outperform” rating to a “neutral” rating and increased their price objective for the company from C$47.00 to C$48.00 in a research note on Thursday, August 3rd. TD Securities increased their price objective on Fortis from C$48.00 to C$51.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Barclays PLC increased their price objective on Fortis from C$37.00 to C$40.00 and gave the company an “overweight” rating in a research note on Friday, July 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Fortis presently has a consensus rating of “Buy” and a consensus target price of C$48.17.
Fortis (TSE FTS) traded down 0.47% on Friday, hitting $44.37. The stock had a trading volume of 4,327,963 shares. Fortis has a one year low of $39.58 and a one year high of $47.06. The stock’s 50 day moving average is $45.59 and its 200 day moving average is $44.63. The stock has a market cap of $18.54 billion and a price-to-earnings ratio of 19.12.
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In other Fortis news, insider Nora Duke sold 33,688 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of C$46.24, for a total value of C$1,557,733.12. Also, insider David Bennett purchased 13,401 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was acquired at an average cost of C$45.99 per share, for a total transaction of C$616,311.99.
Fortis Company Profile
Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.
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