Fortis Inc (TSE:FTS) is set to announce its earnings results before the market opens on Friday, July 28th. Analysts expect the company to announce earnings of $0.55 per share for the quarter.
Shares of Fortis Inc (FTS) traded up 0.36% during trading on Thursday, reaching $44.67. The company’s stock had a trading volume of 657,542 shares. The company has a 50-day moving average price of $45.21 and a 200-day moving average price of $43.71. Fortis Inc has a one year low of $39.58 and a one year high of $47.06. The stock has a market cap of $18.58 billion and a price-to-earnings ratio of 21.25.
In other Fortis news, insider Nora Duke sold 33,688 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of C$46.24, for a total value of C$1,557,733.12. Also, insider David Bennett purchased 13,401 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was acquired at an average price of C$45.99 per share, with a total value of C$616,311.99. Over the last quarter, insiders sold 93,248 shares of company stock valued at $4,261,335.
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FTS has been the subject of a number of analyst reports. Scotiabank upped their price objective on Fortis from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. TD Securities restated a “buy” rating and set a C$48.00 price objective on shares of Fortis in a research note on Wednesday, May 3rd. Barclays PLC restated an “overweight” rating and set a C$48.00 price objective on shares of Fortis in a research note on Wednesday, March 29th. Finally, CIBC decreased their price objective on Fortis from C$48.00 to C$47.00 in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$47.25.
About Fortis
Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.
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