A number of other equities research analysts have also recently commented on FTS. Scotiabank reiterated an outperform rating and issued a C$46.00 price target on shares of Fortis in a research note on Monday, July 4th. TD Securities reiterated a buy rating and issued a C$48.00 price target on shares of Fortis in a research note on Monday, July 4th. BMO Capital Markets increased their price target on Fortis from C$46.00 to C$49.00 in a research note on Thursday, July 7th. CSFB increased their price target on Fortis from C$42.00 to C$46.00 in a research note on Monday, July 25th. Finally, Royal Bank Of Canada increased their price target on Fortis from C$48.00 to C$52.00 and gave the company an outperform rating in a research note on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of C$46.60.
Fortis (TSE:FTS) opened at 42.19 on Wednesday. Fortis has a 52 week low of $35.51 and a 52 week high of $44.87. The company’s 50 day moving average price is $42.04 and its 200-day moving average price is $41.55. The company has a market capitalization of $12.00 billion and a P/E ratio of 21.47.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.79%. This is a positive change from Fortis’s previous quarterly dividend of $0.38.
In related news, insider David Bennett sold 11,815 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of C$44.01, for a total transaction of C$519,978.15.
Fortis Company Profile
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd.
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