Fortis (TSE:FTS) Cut to Hold at Raymond James Financial

Raymond James Financial downgraded shares of Fortis (TSE:FTS) from a moderate buy rating to a hold rating in a report published on Wednesday, Marketbeat reports. They currently have C$86.50 price target on the stock, up from their previous price target of C$85.50.

FTS has been the subject of several other research reports. TD increased their target price on shares of Fortis from C$87.00 to C$90.00 and gave the stock a “buy” rating in a research note on Wednesday. BMO Capital Markets increased their price objective on Fortis from C$81.00 to C$85.00 and gave the stock a “market perform” rating in a research report on Wednesday. Desjardins lifted their target price on Fortis from C$85.00 to C$90.00 and gave the company a “buy” rating in a research note on Wednesday. Canadian Imperial Bank of Commerce cut their price target on Fortis from C$82.00 to C$78.00 in a research note on Tuesday, September 22nd. Finally, National Bank Financial upped their price target on Fortis from C$83.00 to C$84.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$81.95.

Fortis Stock Performance

Shares of FTS traded down C$0.88 during mid-day trading on Wednesday, reaching C$84.91. 2,514,880 shares of the company’s stock were exchanged, compared to its average volume of 1,612,690. The company has a debt-to-equity ratio of 146.51, a current ratio of 0.69 and a quick ratio of 0.36. The stock has a market capitalization of C$43.80 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 3.01 and a beta of 0.49. The business’s fifty day simple moving average is C$77.61 and its 200-day simple moving average is C$77.89. Fortis has a 52-week low of C$69.06 and a 52-week high of C$86.35.

Fortis (TSE:FTS) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.92 earnings per share for the quarter. Fortis had a net margin of 15.04% and a return on equity of 7.57%. The firm had revenue of C$3.12 billion during the quarter. On average, equities research analysts expect that Fortis will post 3.34 earnings per share for the current year.

Fortis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, December 1st will be given a $0.6650 dividend. This is an increase from Fortis’s previous quarterly dividend of $0.64. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 17th. Fortis’s dividend payout ratio (DPR) is presently 72.73%.

Insider Buying and Selling at Fortis

In related news, insider James Reid sold 25,000 shares of Fortis stock in a transaction on Thursday, November 5th. The stock was sold at an average price of C$85.83, for a total value of C$2,145,750.00. Following the transaction, the insider owned 31,419 shares in the company, valued at approximately C$2,696,692.77. This trade represents a 44.31% decrease in their ownership of the stock. Company insiders own 0.04% of the company’s stock.

Fortis Company Profile

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.