A number of research firms have changed their ratings and price targets for Fortis (NYSE: FTS):

  • 4/18/2019 – Fortis was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Fortis, Inc. is engaged in electric and gas utility business. The Company offers regulated utilities comprised of electric and gas as well as engages in non-regulated hydroelectric operations. It operates primarily in Canada, United States and Caribbean. Fortis, Inc. is based in St John’s, Canada. “
  • 4/16/2019 – Fortis had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $50.00 price target on the stock.
  • 4/9/2019 – Fortis was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Fortis, Inc. is engaged in electric and gas utility business. The Company offers regulated utilities comprised of electric and gas as well as engages in non-regulated hydroelectric operations. It operates primarily in Canada, United States and Caribbean. Fortis, Inc. is based in St John’s, Canada. “
  • 4/3/2019 – Fortis was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Fortis, Inc. is engaged in electric and gas utility business. The Company offers regulated utilities comprised of electric and gas as well as engages in non-regulated hydroelectric operations. It operates primarily in Canada, United States and Caribbean. Fortis, Inc. is based in St John’s, Canada. “
  • 3/27/2019 – Fortis was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Fortis, Inc. is engaged in electric and gas utility business. The Company offers regulated utilities comprised of electric and gas as well as engages in non-regulated hydroelectric operations. It operates primarily in Canada, United States and Caribbean. Fortis, Inc. is based in St John’s, Canada. “

NYSE:FTS opened at $37.17 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.77 and a quick ratio of 0.67. The company has a market cap of $16.07 billion, a P/E ratio of 19.46, a P/E/G ratio of 3.85 and a beta of 0.23. Fortis Inc has a fifty-two week low of $30.88 and a fifty-two week high of $37.75.

Fortis (NYSE:FTS) last posted its quarterly earnings data on Friday, February 15th. The utilities provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.19). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Fortis had a return on equity of 6.43% and a net margin of 13.13%. During the same period in the previous year, the business posted $0.58 EPS. As a group, equities analysts forecast that Fortis Inc will post 1.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 17th will be given a dividend of $0.343 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.69%. This is a boost from Fortis’s previous quarterly dividend of $0.34. Fortis’s dividend payout ratio (DPR) is presently 71.20%.

A number of hedge funds have recently modified their holdings of FTS. NumerixS Investment Technologies Inc boosted its position in Fortis by 37.5% in the 4th quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the utilities provider’s stock valued at $36,000 after buying an additional 300 shares during the period. Lindbrook Capital LLC purchased a new position in Fortis in the 4th quarter valued at approximately $37,000. Proficio Capital Partners LLC boosted its position in Fortis by 312.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,214 shares of the utilities provider’s stock valued at $40,000 after buying an additional 920 shares during the period. Financial Gravity Companies Inc. purchased a new position in Fortis in the 4th quarter valued at approximately $43,000. Finally, Bremer Trust National Association purchased a new position in Fortis in the 4th quarter valued at approximately $45,000. 52.41% of the stock is owned by institutional investors.

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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