Fortis (TSE:FTS) Given New C$72.00 Price Target at National Bankshares

Fortis (TSE:FTS) had its price objective boosted by equities researchers at National Bankshares from C$68.00 to C$72.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bankshares’ price target suggests a potential upside of 1.32% from the stock’s previous close.

FTS has been the subject of a number of other research reports. Scotiabank increased their price objective on Fortis from C$74.00 to C$79.00 in a report on Tuesday. Royal Bank Of Canada increased their price target on shares of Fortis from C$72.00 to C$79.00 in a research note on Wednesday, November 5th. Raymond James Financial lifted their price target on shares of Fortis from C$72.00 to C$75.50 and gave the company an “outperform” rating in a research report on Friday, October 24th. CIBC raised their target price on shares of Fortis from C$75.00 to C$76.00 in a research note on Wednesday. Finally, Jefferies Financial Group lifted their target price on shares of Fortis from C$70.00 to C$72.00 in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Fortis has an average rating of “Moderate Buy” and an average target price of C$74.85.

Fortis Stock Up 0.7%

FTS traded up C$0.51 on Wednesday, hitting C$71.06. The company had a trading volume of 257,501 shares, compared to its average volume of 1,607,041. The stock has a fifty day simple moving average of C$71.74 and a 200-day simple moving average of C$68.82. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The firm has a market capitalization of C$35.91 billion, a P/E ratio of 21.15, a P/E/G ratio of 3.01 and a beta of 0.30. Fortis has a 52-week low of C$57.98 and a 52-week high of C$74.00.

Fortis (TSE:FTS) last announced its earnings results on Tuesday, November 4th. The company reported C$0.87 earnings per share (EPS) for the quarter. The firm had revenue of C$2.94 billion during the quarter. Fortis had a return on equity of 7.48% and a net margin of 14.53%. As a group, equities analysts expect that Fortis will post 3.3419913 EPS for the current fiscal year.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.