Shares of Fortis Inc (TSE:FTS) have earned an average rating of “Buy” from the ten analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$47.89.

Several analysts have recently issued reports on the stock. J P Morgan Chase & Co reissued a “neutral” rating and issued a C$44.00 price target on shares of Fortis in a research report on Monday, February 27th. TD Securities reissued a “buy” rating and issued a C$48.00 price target on shares of Fortis in a research report on Friday, March 3rd. Scotiabank reissued an “outperform” rating and issued a C$49.00 price target on shares of Fortis in a research report on Wednesday, May 3rd. CIBC lowered their price target on shares of Fortis from C$48.00 to C$47.00 in a research report on Wednesday, May 3rd. Finally, Barclays PLC reissued an “overweight” rating and issued a C$48.00 price target on shares of Fortis in a research report on Wednesday, March 29th.

In other Fortis news, insider Karl W. Smith sold 54,024 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of C$45.53, for a total value of C$2,459,712.72. Also, Director Jamie Roberts sold 4,836 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of C$45.58, for a total transaction of C$220,424.88. Insiders have sold a total of 59,560 shares of company stock worth $2,703,602 in the last ninety days.

Shares of Fortis (TSE:FTS) traded up 0.50% on Tuesday, hitting $45.79. 3,017,062 shares of the stock traded hands. The stock has a 50 day moving average price of $44.64 and a 200-day moving average price of $42.87. The stock has a market cap of $19.05 billion and a price-to-earnings ratio of 22.45. Fortis has a 52 week low of $39.58 and a 52 week high of $45.87.

TRADEMARK VIOLATION WARNING: “Fortis Inc (FTS) Receives Consensus Recommendation of “Buy” from Brokerages” was published by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international trademark and copyright law. The original version of this piece of content can be read at https://www.watchlistnews.com/fortis-inc-fts-receives-consensus-recommendation-of-buy-from-brokerages/1372716.html.

Fortis Company Profile

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.

Receive News & Ratings for Fortis Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.