Raymond James Forecasts Strong Price Appreciation for Fortis (TSE:FTS) Stock

Fortis (TSE:FTS) had its target price hoisted by stock analysts at Raymond James from C$61.00 to C$62.50 in a research report issued on Tuesday,BayStreet.CA reports. Raymond James’ target price points to a potential downside of 0.02% from the stock’s previous close. Raymond James also issued estimates for Fortis’ Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.69 EPS, Q3 2025 earnings at $0.80 EPS and FY2025 earnings at $3.34 EPS.

A number of other research analysts have also issued reports on the company. Scotiabank lifted their target price on Fortis from C$63.00 to C$66.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Jefferies Financial Group set a C$67.00 price objective on shares of Fortis and gave the stock a “hold” rating in a research note on Thursday, February 13th. CIBC increased their target price on shares of Fortis from C$63.00 to C$64.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada lifted their price target on shares of Fortis from C$65.00 to C$69.00 in a research report on Tuesday. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$62.45.

Fortis Stock Up 1.0 %

Shares of FTS stock opened at C$62.51 on Tuesday. Fortis has a 1 year low of C$51.02 and a 1 year high of C$64.39. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. The business’s fifty day moving average is C$60.75 and its 200-day moving average is C$60.66. The stock has a market cap of C$30.92 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23.

Insider Transactions at Fortis

In other news, Senior Officer Jocelyn Perry sold 11,809 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total value of C$746,178.83. 0.04% of the stock is currently owned by insiders.

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.