Fortis Inc (FTS) Receives Consensus Rating of “Buy” from Brokerages

Shares of Fortis Inc (TSE:FTS) have received a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$46.88.

Several analysts have weighed in on the company. CIBC lifted their price objective on Fortis from C$49.00 to C$50.00 in a research report on Thursday, January 11th. 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. Royal Bank of Canada cut their price objective on Fortis from C$53.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Scotiabank cut their price objective on Fortis from C$50.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Finally, TD Securities cut their price objective on Fortis from C$51.00 to C$46.00 and set a “buy” rating on the stock in a research report on Friday, February 16th.

How to Become a New Pot Stock Millionaire

In related news, Director David Gerard Hutchens purchased 16,300 shares of the company’s stock in a transaction dated Monday, March 19th. The shares were purchased at an average cost of C$32.74 per share, with a total value of C$533,662.00. Also, Director Gary Joseph Smith sold 10,072 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of C$42.10, for a total value of C$424,031.20. Over the last three months, insiders bought 16,588 shares of company stock worth $545,890.



Fortis stock traded up C$0.09 during trading hours on Wednesday, hitting C$42.37. 467,090 shares of the stock traded hands, compared to its average volume of 1,202,240. Fortis has a one year low of C$39.38 and a one year high of C$48.73.

Fortis (TSE:FTS) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.62 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.62. The business had revenue of C$2.11 billion for the quarter, compared to analysts’ expectations of C$2.18 billion. Fortis had a return on equity of 8.20% and a net margin of 16.89%.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 18th will be given a $0.425 dividend. The ex-dividend date is Thursday, May 17th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.01%.

TRADEMARK VIOLATION WARNING: “Fortis Inc (FTS) Receives Consensus Rating of “Buy” from Brokerages” was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://stocknewstimes.com/2018/04/18/fortis-inc-fts-receives-consensus-rating-of-buy-from-brokerages.html.

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.

Analyst Recommendations for Fortis (TSE:FTS)

Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply