Fortis (TSE:FTS) Earns Sector Perform Rating from National Bank Financial

Fortis (TSE:FTS)‘s stock had its “sector perform” rating reaffirmed by analysts at National Bank Financial in a research note issued to investors on Wednesday, BayStreet.CA reports. They currently have a C$54.00 price target on the stock. National Bank Financial’s target price indicates a potential upside of 3.05% from the stock’s previous close.

Several other research analysts have also issued reports on FTS. Wells Fargo & Co increased their price target on shares of Fortis from C$57.00 to C$59.00 in a research report on Tuesday, September 3rd. UBS Group decreased their price objective on Fortis from C$62.00 to C$59.00 in a report on Friday, November 8th. Royal Bank of Canada lifted their price objective on Fortis from C$56.00 to C$59.00 in a report on Wednesday, August 21st. CIBC increased their target price on Fortis from C$55.00 to C$56.00 in a report on Wednesday, September 11th. Finally, Raymond James set a C$55.00 target price on Fortis and gave the stock a “market perform” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Fortis has an average rating of “Hold” and an average price target of C$55.70.

Shares of Fortis stock opened at C$52.40 on Wednesday. The company has a debt-to-equity ratio of 126.57, a quick ratio of 0.34 and a current ratio of 0.56. The firm’s 50-day simple moving average is C$53.42 and its 200-day simple moving average is C$53.40. Fortis has a twelve month low of C$43.49 and a twelve month high of C$56.94. The firm has a market cap of $22.68 billion and a P/E ratio of 14.42.

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 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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Analyst Recommendations for Fortis (TSE:FTS)

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