Fortis Inc (FTS) Insider Acquires C$616,311.99 in Stock

Fortis Inc (TSE:FTS) insider David Bennett purchased 13,401 shares of the stock in a transaction dated Monday, June 19th. The shares were acquired at an average cost of C$45.99 per share, with a total value of C$616,311.99.

Shares of Fortis Inc (FTS) opened at 45.73 on Thursday. The company has a market cap of $19.02 billion and a price-to-earnings ratio of 21.76. The firm has a 50 day moving average price of $44.71 and a 200-day moving average price of $42.99. Fortis Inc has a 52-week low of $39.58 and a 52-week high of $46.13.

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A number of brokerages have issued reports on FTS. Scotiabank reaffirmed an “outperform” rating and issued a C$49.00 target price on shares of Fortis in a report on Wednesday, May 3rd. TD Securities reaffirmed a “buy” rating and issued a C$48.00 target price on shares of Fortis in a report on Wednesday, May 3rd. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a C$44.00 target price on shares of Fortis in a report on Monday, February 27th. Barclays PLC reaffirmed an “overweight” rating and issued a C$48.00 target price on shares of Fortis in a report on Wednesday, March 29th. Finally, CIBC lowered their target price on Fortis from C$48.00 to C$47.00 in a report on Wednesday, May 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$48.10.

About Fortis

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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