Fortis Inc. (TSE:FTS) Receives C$57.54 Consensus Price Target from Analysts

Fortis Inc. (TSE:FTS) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$57.31.

FTS has been the topic of a number of research analyst reports. National Bankshares lifted their price target on Fortis from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a report on Tuesday, January 30th. Bank of America lifted their price target on Fortis from C$49.00 to C$50.00 in a report on Tuesday, January 16th. BMO Capital Markets lowered their price target on Fortis from C$58.50 to C$58.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. JPMorgan Chase & Co. lowered their price target on Fortis from C$53.00 to C$50.00 and set an “underweight” rating on the stock in a report on Monday, January 22nd. Finally, CIBC lowered their target price on Fortis from C$59.00 to C$56.00 and set a “neutral” rating on the stock in a research note on Friday.

Insider Transactions at Fortis

In other news, Senior Officer Ronald Hinsley sold 972 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of C$38.79, for a total transaction of C$37,706.21. In other Fortis news, Director Brian Slocum acquired 1,888 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of C$39.18 per share, with a total value of C$73,971.65. Also, Senior Officer Ronald Hinsley sold 972 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of C$38.79, for a total value of C$37,706.21. In the last quarter, insiders purchased 2,851 shares of company stock worth $111,115. 0.04% of the stock is owned by corporate insiders.

Fortis Stock Up 1.0 %

Shares of Fortis stock opened at C$52.89 on Friday. The stock’s fifty day moving average is C$53.02 and its 200-day moving average is C$54.17. The firm has a market capitalization of C$26.07 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.80 and a beta of 0.17. The company has a quick ratio of 0.36, a current ratio of 0.68 and a debt-to-equity ratio of 128.76. Fortis has a 12-month low of C$49.82 and a 12-month high of C$62.00.

Fortis (TSE:FTS) last announced its earnings results on Friday, February 9th. The company reported C$0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.72. The company had revenue of C$2.89 billion for the quarter, compared to analyst estimates of C$3.22 billion. Fortis had a return on equity of 7.41% and a net margin of 13.66%. Equities analysts anticipate that Fortis will post 3.2119367 earnings per share for the current year.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.36 annualized dividend and a dividend yield of 4.46%. Fortis’s dividend payout ratio (DPR) is presently 76.13%.

Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.