Raymond James Cuts Fortis (TSE:FTS) Price Target to C$62.50

Fortis (TSE:FTS) had its price objective trimmed by Raymond James from C$69.00 to C$62.50 in a report published on Thursday morning,BayStreet.CA reports. The firm currently has a market perform rating on the stock. Raymond James also issued estimates for Fortis’ Q1 2025 earnings at $0.97 EPS, FY2025 earnings at $3.38 EPS, Q1 2026 earnings at $1.01 EPS, Q2 2026 earnings at $0.68 EPS, Q3 2026 earnings at $0.87 EPS, Q4 2026 earnings at $0.99 EPS and FY2026 earnings at $3.55 EPS.

Other analysts also recently issued research reports about the stock. Scotiabank upped their price target on shares of Fortis from C$63.00 to C$66.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. CIBC upped their price objective on Fortis from C$65.00 to C$68.00 in a research report on Friday, April 4th. Royal Bank of Canada boosted their target price on shares of Fortis from C$65.00 to C$69.00 in a research note on Tuesday, February 18th. Jefferies Financial Group lifted their price target on shares of Fortis from C$67.00 to C$70.00 in a report on Monday, April 14th. Finally, UBS Group raised their target price on shares of Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, Fortis has a consensus rating of “Hold” and a consensus price target of C$63.05.

Fortis Trading Up 1.0 %

Shares of FTS stock opened at C$66.70 on Thursday. The stock has a market cap of C$33.00 billion, a P/E ratio of 19.80, a P/E/G ratio of 3.01 and a beta of 0.23. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31. Fortis has a fifty-two week low of C$51.59 and a fifty-two week high of C$67.52. The business has a fifty day simple moving average of C$64.14 and a 200-day simple moving average of C$62.10.

Fortis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be issued a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 3.69%. Fortis’s payout ratio is currently 73.02%.

About Fortis

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.