Fortis (TSE:FTS) Price Target Raised to C$52.00 at JPMorgan Chase & Co.

Fortis (TSE:FTS) had its target price increased by JPMorgan Chase & Co. from C$50.00 to C$52.00 in a report issued on Monday morning, BayStreet.CA reports.

A number of other analysts have also recently commented on the stock. UBS Group increased their price target on shares of Fortis from C$54.00 to C$55.00 in a research note on Wednesday, March 20th. CIBC cut shares of TransAlta Renewables from a neutral rating to an underperform rating and raised their target price for the stock from C$13.00 to C$13.50 in a research note on Wednesday, April 3rd. Raymond James restated a buy rating and set a $21.00 target price on shares of Colfax in a research note on Thursday, May 2nd. Royal Bank of Canada set a $42.00 target price on shares of Devon Energy and gave the stock a hold rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets restated a buy rating on shares of Gran Tierra Energy in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of C$51.78.

Shares of FTS stock opened at C$51.88 on Monday. The firm has a market capitalization of $22.36 billion and a PE ratio of 20.34. The company has a current ratio of 0.70, a quick ratio of 0.37 and a debt-to-equity ratio of 133.75. The company has a fifty day moving average price of C$51.96. Fortis has a one year low of C$40.71 and a one year high of C$52.95.

Fortis (TSE:FTS) last announced its quarterly earnings results on Wednesday, May 1st. The company reported C$0.74 EPS for the quarter, missing analysts’ consensus estimates of C$0.75 by C($0.01). The business had revenue of C$2.44 billion for the quarter, compared to analysts’ expectations of C$2.29 billion. On average, research analysts expect that Fortis will post 2.77 EPS for the current fiscal year.

Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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Analyst Recommendations for Fortis (TSE:FTS)

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