Fortis Inc (TSE:FTS) has been given an average recommendation of “Hold” by the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$55.30.

Several equities analysts have issued reports on FTS shares. JPMorgan Chase & Co. boosted their price objective on shares of Fortis from C$50.00 to C$52.00 in a research note on Monday, July 15th. National Bank Financial boosted their price objective on shares of Fortis from C$53.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Thursday. BMO Capital Markets cut shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Raymond James reissued a “market perform” rating and issued a C$55.00 price objective on shares of Fortis in a research note on Thursday. Finally, Wells Fargo & Co boosted their price objective on shares of Fortis from C$57.00 to C$59.00 in a research note on Tuesday, September 3rd.

Shares of Fortis stock traded up C$0.14 during trading on Friday, reaching C$55.46. The company’s stock had a trading volume of 492,361 shares, compared to its average volume of 1,094,427. The company has a 50-day moving average price of C$53.96 and a two-hundred day moving average price of C$51.21. The firm has a market cap of $24.12 billion and a PE ratio of 15.16. Fortis has a fifty-two week low of C$40.71 and a fifty-two week high of C$56.62. The company has a current ratio of 0.62, a quick ratio of 0.40 and a debt-to-equity ratio of 125.01.

Fortis (TSE:FTS) last announced its earnings results on Friday, August 2nd. The company reported C$0.74 EPS for the quarter, beating analysts’ consensus estimates of C$0.58 by C$0.16. The business had revenue of C$2.44 billion during the quarter, compared to analyst estimates of C$2.01 billion. On average, analysts predict that Fortis will post 2.7699998 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Tuesday, November 19th will be issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 3.44%. This is a positive change from Fortis’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, November 18th. Fortis’s dividend payout ratio is 48.55%.

Fortis Company Profile

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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