Raymond James Financial upgraded shares of Fortis (TSE:FTS) from a market perform rating to an outperform rating in a research note released on Friday morning.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Fortis from C$47.00 to C$48.00 in a report on Thursday, October 19th. CIBC lifted their target price on shares of Fortis from C$48.00 to C$49.00 in a research note on Tuesday, October 17th. BMO Capital Markets cut their target price on shares of Fortis from C$51.50 to C$49.00 in a research note on Tuesday, February 6th. National Bank Financial lowered shares of Fortis from a sector perform market weight rating to an underperform market weight rating in a research note on Sunday, January 28th. Finally, Scotiabank lifted their target price on shares of Fortis from C$50.00 to C$51.00 and gave the company an outperform rating in a research note on Monday, November 6th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of C$48.89.

Shares of Fortis (FTS) opened at C$41.71 on Friday. The stock has a market cap of $17,570.00, a price-to-earnings ratio of 16.75 and a beta of -0.06. Fortis has a twelve month low of C$40.57 and a twelve month high of C$48.73.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Wednesday, February 14th. Fortis’s payout ratio is 64.26%.

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About Fortis

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.

Analyst Recommendations for Fortis (TSE:FTS)

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