Fortis Inc (TSE:FTS)‘s stock had its “outperform” rating restated by Scotiabank in a research note issued to investors on Wednesday, StockTargetPrices.com reports. They presently have a C$48.00 price objective on the stock. Scotiabank’s price target suggests a potential upside of 18.34% from the company’s current price.
Several other research analysts have also recently issued reports on the company. CIBC raised their target price on Fortis from C$44.00 to C$47.00 in a research report on Wednesday, September 28th. Raymond James Financial Inc. reissued an “outperform” rating and issued a C$50.00 target price on shares of Fortis in a research report on Thursday, September 22nd. Royal Bank Of Canada raised their target price on Fortis from C$48.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. TD Securities raised their target price on Fortis from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, CSFB raised their price objective on Fortis from C$42.00 to C$46.00 in a research note on Monday, July 25th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$46.60.
Fortis (TSE:FTS) traded up 1.58% during trading on Wednesday, reaching $41.20. 779,182 shares of the company’s stock were exchanged. The stock has a market cap of $11.72 billion and a PE ratio of 20.97. Fortis has a 12 month low of $35.51 and a 12 month high of $44.87. The firm has a 50 day moving average of $41.67 and a 200-day moving average of $41.64.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.94%. This is an increase from Fortis’s previous quarterly dividend of $0.38.
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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