National Bank Financial Reiterates Sector Perform Rating for Fortis (TSE:FTS)

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Fortis (TSE:FTS)‘s stock had its “sector perform” rating reiterated by equities research analysts at National Bank Financial in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. They presently have a C$54.00 price objective on the stock. National Bank Financial’s price target points to a potential upside of 2.82% from the company’s previous close.

A number of other research firms also recently weighed in on FTS. Wells Fargo & Co lifted their price target on Fortis from C$57.00 to C$59.00 in a research note on Tuesday, September 3rd. CSFB set a C$54.00 price objective on Fortis and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada increased their price objective on Fortis from C$56.00 to C$59.00 in a research report on Wednesday, August 21st. Raymond James set a C$55.00 target price on Fortis and gave the company a “market perform” rating in a report on Monday, November 25th. Finally, UBS Group decreased their target price on shares of Fortis from C$62.00 to C$59.00 in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of C$55.70.

Shares of FTS stock opened at C$52.52 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.34 and a debt-to-equity ratio of 126.57. The stock has a 50 day simple moving average of C$53.47 and a 200-day simple moving average of C$53.39. The company has a market cap of $22.68 billion and a price-to-earnings ratio of 14.45. Fortis has a 12-month low of C$43.49 and a 12-month high of C$56.94.

About Fortis

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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Analyst Recommendations for Fortis (TSE:FTS)

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