Analysts’ Recent Ratings Changes for Fortis (FTS)

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Fortis (TSE: FTS) recently received a number of ratings updates from brokerages and research firms:

  • 11/5/2018 – Fortis had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a C$50.00 price target on the stock.
  • 11/5/2018 – Fortis had its price target raised by analysts at Royal Bank of Canada from C$49.00 to C$50.00. They now have an “outperform” rating on the stock.
  • 11/5/2018 – Fortis had its price target raised by analysts at TD Securities from C$46.00 to C$48.00. They now have a “buy” rating on the stock.
  • 11/5/2018 – Fortis had its price target raised by analysts at CIBC from C$46.00 to C$47.00.
  • 10/24/2018 – Fortis had its price target lowered by analysts at CIBC from C$48.00 to C$46.00.
  • 10/16/2018 – Fortis had its price target raised by analysts at National Bank Financial from C$44.00 to C$45.00. They now have a “sector perform” rating on the stock.
  • 10/9/2018 – Fortis had its price target lowered by analysts at Industrial Alliance Securities from C$51.00 to C$48.00.
  • 9/11/2018 – Fortis had its price target lowered by analysts at BMO Capital Markets from C$49.00 to C$48.00.

TSE:FTS opened at C$44.23 on Wednesday. Fortis Inc has a 1 year low of C$39.38 and a 1 year high of C$48.73.

Fortis (TSE:FTS) last posted its earnings results on Friday, November 2nd. The company reported C$0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.65. The company had revenue of C$2.04 billion for the quarter, compared to analysts’ expectations of C$2.14 billion.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Tuesday, November 20th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $1.80 annualized dividend and a dividend yield of 4.07%. This is an increase from Fortis’s previous quarterly dividend of $0.43.

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 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.

Further Reading: Dollar Cost Averaging

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