Fortis Inc (TSE:FTS) has received an average rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$46.29.

FTS has been the topic of several analyst reports. CIBC raised their price target on shares of Fortis from C$49.00 to C$50.00 in a research note on Thursday, January 11th. 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. BMO Capital Markets dropped their price target on shares of Fortis from C$51.50 to C$49.00 in a research note on Tuesday, February 6th. Raymond James Financial upgraded shares of Fortis from a “market perform” rating to an “outperform” rating in a research note on Friday, February 9th. Finally, TD Securities dropped their price target on shares of Fortis from C$51.00 to C$46.00 and set a “buy” rating on the stock in a research note on Friday, February 16th.

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In related news, Director Gary Joseph Smith sold 10,072 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of C$42.10, for a total value of C$424,031.20.

Shares of Fortis (TSE FTS) traded up C$0.02 during mid-day trading on Friday, hitting C$43.04. 3,741,700 shares of the stock traded hands, compared to its average volume of 1,236,001. The company has a market capitalization of $18,120.00, a PE ratio of 18.55 and a beta of -0.02. Fortis has a twelve month low of C$39.38 and a twelve month high of C$48.73.

Fortis (TSE:FTS) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.62 earnings per share for the quarter, hitting the consensus estimate of C$0.62. The firm had revenue of C$2.11 billion for the quarter, compared to analyst estimates of C$2.18 billion. Fortis had a net margin of 16.89% and a return on equity of 8.20%.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, May 17th. Fortis’s dividend payout ratio is 70.04%.

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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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