November 25, 2016 - By Adrian Mccoy
Expert analysts at Desjardins started coverage on shares of Fortis (TSE:FTS) in analysts report made public on Friday morning, Octafinance.com reports. The firm set Buy rating on FTS stock.
Out of 9 analysts covering Fortis Incorporated (TSE:FTS), 6 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 67% are positive. $50 is the highest target while $38 is the lowest. The $45.78 average target is 12.95% above today’s ($40.53) stock price. Fortis Incorporated has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Fortis Inc (TSE:FTS) earned “Outperform” rating by Raymond James on Thursday, September 22. The stock has “Buy” rating given by Desjardins Securities on Thursday, November 24. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, October 7. As per Wednesday, July 20, the company rating was downgraded by IBC.
About 129,893 shares traded hands. Fortis Inc (TSE:FTS) has risen 4.33% since April 21, 2016 and is uptrending. It has underperformed by 1.08% the S&P500.
Analysts await Fortis Inc (TSE:FTS) to report earnings on February, 3. FTS’s profit will be $158.60M for 25.33 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 $16.07 billion. The Company’s divisions include Regulated Utilities and Non-Regulated Utilities. It has a 21.94 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, Fool.ca published: “4 Top Reasons to Love Fortis Inc.” on November 11, 2016. More interesting news about Fortis Inc (TSE:FTS) were released by: Marketwatch.com and their article: “Fortis Inc. Announces Pricing of US$2.0 Billion Notes Offering” published on September 30, 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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By Adrian Mccoy