Fortis (FTS) Price Target Raised to C$50.00
FTS has been the subject of several other reports. Royal Bank of Canada boosted their price objective on shares of Fortis from C$51.00 to C$53.00 and gave the company an outperform rating in a research note on Monday, November 6th. JPMorgan Chase & Co. lowered their price objective on shares of Fortis from C$46.00 to C$45.00 in a research note on Tuesday, September 26th. National Bank Financial reissued a sector perform rating and set a C$49.00 price objective (up from C$48.00) on shares of Fortis in a research note on Tuesday, October 17th. Scotiabank upped their price target on shares of Fortis from C$50.00 to C$51.00 and gave the stock an outperform rating in a research report on Monday, November 6th. Finally, BMO Capital Markets set a C$51.00 price target on shares of Fortis in a research report on Friday, September 15th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Fortis has an average rating of Buy and an average price target of C$49.11.
Shares of Fortis (TSE FTS) opened at C$43.55 on Thursday. Fortis has a 12 month low of C$40.73 and a 12 month high of C$48.73. The stock has a market cap of $18,340.00, a price-to-earnings ratio of 17.49 and a beta of 0.01.
In other Fortis news, insider Earl Ludlow sold 35,056 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of C$46.45, for a total value of C$1,628,351.20. Also, Director Jamie Roberts sold 1,569 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of C$48.11, for a total transaction of C$75,484.59.
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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