Fortis (TSE:FTS) had its price target reduced by research analysts at TD Securities from C$51.00 to C$46.00 in a report released on Friday, February 16th. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 7.00% from the stock’s previous close.
A number of other brokerages have also recently weighed in on FTS. CIBC boosted their price objective on Fortis from C$49.00 to C$50.00 in a research note on Thursday, January 11th. JPMorgan Chase & Co. upped their price target on Fortis from C$48.00 to C$49.00 in a research note on Monday, November 13th. BMO Capital Markets cut their price objective on Fortis from C$51.50 to C$49.00 in a research report on Tuesday, February 6th. National Bank Financial cut Fortis from a “sector perform market weight” rating to an “underperform market weight” rating in a research report on Sunday, January 28th. Finally, Scotiabank upped their target price on Fortis from C$50.00 to C$51.00 and gave the company an “outperform” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$46.75.
Shares of Fortis (FTS) traded down C$0.10 on Friday, reaching C$42.99. The company had a trading volume of 809,626 shares, compared to its average volume of 1,179,375. The firm has a market capitalization of $18,160.00, a P/E ratio of 18.53 and a beta of -0.02. Fortis has a 52-week low of C$39.38 and a 52-week high of C$48.73.
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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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