Fortis Inc (FTS) PT Raised to C$48.00

Fortis Inc (TSE:FTS) had its target price raised by research analysts at CIBC from C$47.00 to C$48.00 in a research note issued on Thursday. CIBC’s price objective indicates a potential upside of 12.91% from the company’s previous close.

FTS has been the subject of a number of other reports. Desjardins reiterated a “buy” rating and issued a C$46.00 price target on shares of Fortis in a research note on Thursday, November 24th. Scotiabank reiterated an “outperform” rating and issued a C$48.00 price target on shares of Fortis in a research note on Wednesday, October 12th. Raymond James Financial, Inc. downgraded Fortis from an “outperform” rating to a “mkt perform” rating in a research note on Tuesday, January 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a C$52.00 price target on shares of Fortis in a research note on Tuesday, January 24th. Finally, TD Securities lifted their price target on Fortis from C$49.00 to C$50.00 and gave the stock a “buy” rating in a research note on Monday, November 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$48.63.

Analyst Recommendations for Fortis (TSE:FTS)

Fortis (TSE:FTS) opened at 42.51 on Thursday. The stock’s 50 day moving average price is $41.48 and its 200-day moving average price is $41.74. The stock has a market capitalization of $17.00 billion and a P/E ratio of 22.68. Fortis has a 52 week low of $35.53 and a 52 week high of $44.87.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, March 1st will be paid a $0.40 dividend. The ex-dividend date is Tuesday, February 14th. This represents a $1.60 dividend on an annualized basis and a yield of 3.76%.

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About Fortis

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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