Fortis (TSE:FTS) Stock Dropped to Hold by Barclays

Barclays cut shares of Fortis (TSE:FTS) from a strong-buy rating to a hold rating in a research note issued to investors on Friday morning,Zacks reports.

Several other research analysts also recently issued reports on the stock. National Bank Financial upped their target price on shares of Fortis from C$83.00 to C$84.00 and gave the stock a “sector perform” rating in a research note on Wednesday. TD increased their price target on shares of Fortis from C$87.00 to C$90.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James Financial downgraded shares of Fortis from a “moderate buy” rating to a “hold” rating and raised their price target for the company from C$85.50 to C$86.50 in a research report on Wednesday. Canadian Imperial Bank of Commerce reduced their price target on shares of Fortis from C$82.00 to C$78.00 in a research report on Tuesday, September 22nd. Finally, Desjardins boosted their price objective on shares of Fortis from C$85.00 to C$90.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Fortis has a consensus rating of “Hold” and an average price target of C$81.95.

Fortis Stock Down 1.0%

Shares of FTS traded down C$0.88 during trading hours on Friday, hitting C$84.91. The company had a trading volume of 2,514,880 shares, compared to its average volume of 1,612,690. The firm has a fifty day moving average price of C$77.61 and a 200-day moving average price of C$77.89. The company has a debt-to-equity ratio of 146.51, a quick ratio of 0.36 and a current ratio of 0.69. The stock has a market capitalization of C$43.80 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 3.01 and a beta of 0.49. Fortis has a 52-week low of C$69.06 and a 52-week high of C$86.35.

Fortis (TSE:FTS) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.92 earnings per share (EPS) for the quarter. Fortis had a net margin of 15.04% and a return on equity of 7.57%. The company had revenue of C$3.12 billion for the quarter. On average, equities research analysts forecast that Fortis will post 3.34 EPS for the current fiscal year.

Fortis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.6650 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This is a positive change from Fortis’s previous quarterly dividend of $0.64. This represents a $2.66 annualized dividend and a dividend yield of 3.1%. Fortis’s dividend payout ratio is presently 72.73%.

Insiders Place Their Bets

In related news, insider James Reid sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of C$85.83, for a total value of C$2,145,750.00. Following the sale, the insider owned 31,419 shares in the company, valued at approximately C$2,696,692.77. This trade represents a 44.31% decrease in their ownership of the stock. 0.04% of the stock is currently owned by company insiders.

About Fortis

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation’s 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.