Fortis Inc. (TSE:FTS – Get Free Report) Director Pierre Blouin bought 141 shares of Fortis stock in a transaction on Thursday, July 2nd. The stock was acquired at an average cost of C$81.69 per share, with a total value of C$11,518.29. Following the acquisition, the director owned 1,998 shares of the company’s stock, valued at C$163,216.62. This trade represents a 7.59% increase in their position.
Fortis Price Performance
Shares of TSE FTS traded down C$0.40 during trading on Friday, hitting C$81.79. 146,238 shares of the company were exchanged, compared to its average volume of 1,686,979. The company has a debt-to-equity ratio of 145.23, a current ratio of 0.49 and a quick ratio of 0.36. Fortis Inc. has a 1 year low of C$63.54 and a 1 year high of C$82.67. The company has a market cap of C$41.64 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 3.01 and a beta of 0.43. The firm’s fifty day moving average price is C$78.16 and its 200 day moving average price is C$76.22.
Fortis (TSE:FTS – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$0.99 earnings per share (EPS) for the quarter. Fortis had a net margin of 14.75% and a return on equity of 7.51%. The business had revenue of C$3.40 billion during the quarter. On average, sell-side analysts expect that Fortis Inc. will post 3.3419913 earnings per share for the current fiscal year.
Fortis Announces Dividend
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. TD boosted their price target on Fortis from C$83.00 to C$84.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Raymond James Financial lifted their price objective on Fortis from C$78.50 to C$80.50 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Barclays lowered their target price on Fortis from C$84.00 to C$83.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, National Bank Financial raised their price target on Fortis from C$75.00 to C$82.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Fortis presently has a consensus rating of “Moderate Buy” and an average price target of C$79.32.
Check Out Our Latest Stock Analysis on Fortis
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. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.
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