November 24, 2016 - By Marie Mckinney
Desjardins Securities have a $46.00 target price on the stock. The target price gives a potential upside of 13.30% from Fortis Inc (TSE:FTS)‘s current stock price. This rating was revealed to clients and investors in a note on 24 November.
Out of 8 analysts covering Fortis Incorporated (TSE:FTS), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. $50 is the highest target while $38 is the lowest. The $45.75 average target is 12.71% above today’s ($40.59) stock price. Fortis Incorporated has been the topic of 15 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Wednesday, October 7 by RBC Capital Markets. On Wednesday, July 20 the stock rating was downgraded by IBC to “Sector Perform”. On Thursday, September 22 the stock rating was maintained by Raymond James with “Outperform”.
About 370,290 shares traded hands. Fortis Inc (TSE:FTS) has risen 3.60% since April 20, 2016 and is uptrending. It has underperformed by 1.81% the S&P500.
Analysts await Fortis Inc (TSE:FTS) to report earnings on February, 3. FTS’s profit will be $161.12M for 25.37 P/E if the $0.40 EPS becomes a reality. After $0.41 actual EPS reported by Fortis Inc for the previous quarter, Wall Street now forecasts -2.44% negative EPS growth.
Fortis Inc is a Canada-based electric and gas utility company. The company has a market cap of $16.35 billion. The Company’s divisions include Regulated Utilities and Non-Regulated Utilities. It has a 21.97 P/E ratio. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc. (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc. (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd. (Caribbean Utilities), Fortis Turks and Caicos, and its investment in Belize Electricity Limited (Belize Electricity).
According to Zacks Investment Research, “Fortis, Inc. is engaged in electric and gas utility business. The Company offers regulated utilities comprised of electric and gas as well as engages in non-regulated hydroelectric operations. It operates primarily in Canada, United States and Caribbean. Fortis, Inc. is based in St John’s, Canada.”
More notable recent Fortis Inc (TSE:FTS) news were published by: Fool.ca which released: “Get Stable, Long-Term Growth From Fortis Inc.” on November 23, 2016, also Moodys.com with their article: “Moody’s assigns new Baa3 ratings to Fortis Inc; outlook stable” published on September 26, 2016, Marketwatch.com published: “Fortis Inc. Announces Pricing of US$2.0 Billion Notes Offering” on September 30, 2016. More interesting news about Fortis Inc (TSE:FTS) were released by: Fool.ca and their article: “4 Top Reasons to Love Fortis Inc.” published on November 11, 2016 as well as Fool.ca‘s news article titled: “Fortis Inc. Is an Income Stock to Buy and Hold Forever” with publication date: October 10, 2016.
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