FTS has been the topic of several other reports. Scotiabank increased their price target on Fortis from C$46.00 to C$48.00 and gave the stock an outperform rating in a research report on Tuesday, August 2nd. TD Securities reaffirmed a buy rating and set a C$48.00 price target on shares of Fortis in a research report on Monday, July 4th. Royal Bank Of Canada increased their price target on Fortis from C$48.00 to C$52.00 and gave the stock an outperform rating in a research report on Wednesday, August 3rd. CSFB increased their price target on Fortis from C$42.00 to C$46.00 in a research report on Monday, July 25th. Finally, Raymond James Financial Inc. reaffirmed an outperform rating and set a C$50.00 price target on shares of Fortis in a research report on Thursday, September 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of C$46.60.
Shares of Fortis (TSE:FTS) opened at 41.53 on Wednesday. The stock has a market capitalization of $11.82 billion and a P/E ratio of 21.13. Fortis has a 52-week low of $35.51 and a 52-week high of $44.87. The company has a 50 day moving average price of $42.00 and a 200-day moving average price of $41.60.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.85%. This is a boost from Fortis’s previous quarterly dividend of $0.38.
In related news, insider David Bennett sold 11,815 shares of Fortis stock in a transaction dated Friday, July 8th. The stock was sold at an average price of C$44.01, for a total value of C$519,978.15.
Fortis Company Profile
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd.
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