Raymond James Financial upgraded shares of Fortis (TSE:FTS) from a market perform rating to an outperform rating in a report published on Friday.

Several other research firms have also issued reports on FTS. Royal Bank of Canada boosted their price target on Fortis from C$51.00 to C$53.00 and gave the company an outperform rating in a report on Monday, November 6th. Scotiabank boosted their price target on Fortis from C$50.00 to C$51.00 and gave the company an outperform rating in a report on Monday, November 6th. JPMorgan Chase & Co. boosted their price target on Fortis from C$48.00 to C$49.00 in a report on Monday, November 13th. CIBC boosted their price target on Fortis from C$48.00 to C$49.00 in a report on Tuesday, October 17th. Finally, National Bank Financial reissued a sector perform rating and set a C$49.00 price target (up previously from C$48.00) on shares of Fortis in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of C$48.89.

Shares of Fortis (TSE:FTS) opened at C$41.71 on Friday. Fortis has a fifty-two week low of C$40.57 and a fifty-two week high of C$48.73. The stock has a market capitalization of $17,570.00, a PE ratio of 16.75 and a beta of -0.06.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Wednesday, February 14th. Fortis’s dividend payout ratio (DPR) is 64.26%.

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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.

Analyst Recommendations for Fortis (TSE:FTS)

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