Fortis Inc (TSE:FTS) received a C$51.00 price objective from investment analysts at BMO Capital Markets in a report issued on Friday, September 15th. BMO Capital Markets’ price objective points to a potential upside of 13.89% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. TD Securities boosted their target price on shares of Fortis from C$48.00 to C$51.00 and gave the company a “buy” rating in a report on Monday, July 31st. CIBC cut shares of Fortis from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from C$47.00 to C$48.00 in a research report on Thursday, August 3rd. Scotiabank reissued an “outperform” rating and set a C$50.00 target price on shares of Fortis in a research report on Monday, July 31st. Royal Bank Of Canada reduced their target price on shares of Fortis from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research report on Monday, July 31st. Finally, Barclays PLC boosted their target price on shares of Fortis from C$37.00 to C$40.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of C$48.00.
Shares of Fortis (TSE:FTS) opened at 44.78 on Friday. The stock has a 50 day moving average price of $45.54 and a 200 day moving average price of $44.71. Fortis has a 1-year low of $39.58 and a 1-year high of $47.06. The stock has a market capitalization of $18.71 billion and a price-to-earnings ratio of 19.29.
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Fortis Company Profile
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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