Desjardins Analysts Give Fortis (TSE:FTS) a C$85.00 Price Target

Desjardins set a C$85.00 price objective on Fortis (TSE:FTS) in a research report sent to investors on Tuesday morning,BayStreet reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Canadian Imperial Bank of Commerce reduced their target price on Fortis from C$82.00 to C$78.00 in a report on Tuesday, September 22nd. Barclays lowered their price target on Fortis from C$82.00 to C$76.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$79.23.

Fortis Stock Up 1.3%

FTS opened at C$81.29 on Tuesday. Fortis has a twelve month low of C$69.06 and a twelve month high of C$83.75. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 143.60. The company has a 50-day moving average price of C$76.70 and a 200 day moving average price of C$77.53. The company has a market cap of C$41.53 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 3.01 and a beta of 0.34.

Fortis (TSE:FTS) last issued its quarterly earnings results on Friday, July 31st. The company reported C$0.78 earnings per share for the quarter. Fortis had a net margin of 14.72% and a return on equity of 7.43%. The firm had revenue of C$2.93 billion for the quarter. Sell-side analysts expect that Fortis will post 3.34 earnings per share for the current fiscal year.

Fortis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were given a dividend of $0.64 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.56 dividend on an annualized basis and a yield of 3.1%. Fortis’s payout ratio is presently 74.56%.

About Fortis

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation’s 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.