Fortis Inc (FTS) Given Consensus Rating of “Buy” by Brokerages

Fortis Inc (TSE:FTS) has received a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$47.50.

A number of analysts have recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Fortis from C$49.00 to C$48.00 in a research note on Tuesday, September 11th. Industrial Alliance Securities reduced their price objective on shares of Fortis from C$51.00 to C$48.00 in a research note on Tuesday.

FTS stock traded up C$0.43 during trading hours on Friday, hitting C$41.54. The company’s stock had a trading volume of 3,131,100 shares, compared to its average volume of 984,371. Fortis has a 12 month low of C$39.38 and a 12 month high of C$48.73.

Fortis (TSE:FTS) last posted its earnings results on Tuesday, July 31st. The company reported C$0.57 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.57. The company had revenue of C$1.95 billion during the quarter, compared to the consensus estimate of C$2.06 billion. Fortis had a net margin of 16.89% and a return on equity of 8.20%.

Fortis Company Profile

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 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.

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Analyst Recommendations for Fortis (TSE:FTS)

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