Fortis (TSE:FTS – Get Free Report) had its price target lifted by equities researchers at CIBC from C$56.00 to C$57.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s target price indicates a potential upside of 4.41% from the company’s previous close.
FTS has been the subject of several other reports. BMO Capital Markets reduced their price objective on Fortis from C$58.50 to C$58.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. Scotiabank reduced their price objective on Fortis from C$60.00 to C$56.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. reduced their price objective on Fortis from C$53.00 to C$50.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. National Bankshares upped their price objective on Fortis from C$52.00 to C$55.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 30th. Finally, Raymond James reduced their price objective on Fortis from C$62.00 to C$59.00 in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Fortis presently has a consensus rating of “Hold” and an average target price of C$56.88.
Get Our Latest Analysis on Fortis
Fortis Stock Up 0.4 %
Fortis (TSE:FTS – Get Free Report) last posted its earnings results on Friday, February 9th. The company reported C$0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.72. The firm had revenue of C$2.89 billion during the quarter, compared to analysts’ expectations of C$3.22 billion. Fortis had a return on equity of 7.41% and a net margin of 13.66%. As a group, equities analysts expect that Fortis will post 3.2119367 earnings per share for the current year.
Insider Activity at Fortis
In other Fortis news, Senior Officer Ronald Hinsley sold 972 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of C$38.79, for a total value of C$37,706.21. In other Fortis news, Director Margarita Dilley acquired 960 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of C$38.57 per share, for a total transaction of C$37,027.20. Also, Senior Officer Ronald Hinsley sold 972 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of C$38.79, for a total value of C$37,706.21. Over the last ninety days, insiders purchased 2,851 shares of company stock valued at $111,115. Insiders own 0.04% of the company’s stock.
Fortis Company Profile
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.
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