Fortis Inc. (TSE:FTS) Receives C$75.65 Consensus Target Price from Analysts

Shares of Fortis Inc. (TSE:FTS) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$75.65.

A number of research analysts have commented on the company. Scotiabank increased their price objective on Fortis from C$79.00 to C$80.00 and gave the company a “sector perform” rating in a research report on Friday, February 13th. Royal Bank Of Canada lifted their price objective on Fortis from C$79.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Friday, February 13th. Jefferies Financial Group cut their target price on shares of Fortis from C$72.00 to C$70.00 in a research report on Wednesday, January 28th. Desjardins lifted their price target on shares of Fortis from C$79.00 to C$81.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, National Bank Financial increased their price objective on shares of Fortis from C$68.00 to C$72.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th.

Fortis Trading Down 0.5%

Shares of TSE FTS opened at C$76.99 on Wednesday. Fortis has a 1-year low of C$61.32 and a 1-year high of C$78.07. The company has a market cap of C$39.06 billion, a PE ratio of 22.64, a P/E/G ratio of 3.01 and a beta of 0.35. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. The company has a 50-day moving average of C$72.65 and a two-hundred day moving average of C$71.21.

Fortis (TSE:FTS) last announced its earnings results on Thursday, February 12th. The company reported C$0.90 earnings per share (EPS) for the quarter. The company had revenue of C$3.08 billion for the quarter. Fortis had a net margin of 14.53% and a return on equity of 7.48%. As a group, equities analysts expect that Fortis will post 3.3419913 earnings per share for the current fiscal year.

Fortis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Sunday, March 1st will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.3%. Fortis’s payout ratio is 73.09%.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.