Fortis (TSE:FTS – Get Free Report) had its price target hoisted by stock analysts at BMO Capital Markets from C$58.00 to C$58.50 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 7.16% from the stock’s current price.
Other research analysts also recently issued reports about the company. Raymond James lowered their price objective on Fortis from C$62.00 to C$59.00 in a research note on Thursday, April 25th. CIBC increased their price target on Fortis from C$56.00 to C$57.00 and gave the stock a “neutral” rating in a research note on Thursday. National Bankshares increased their price target on Fortis from C$52.00 to C$55.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. decreased their price target on Fortis from C$53.00 to C$50.00 and set an “underweight” rating for the company in a research note on Monday, January 22nd. Finally, Bank of America increased their price target on Fortis from C$49.00 to C$50.00 in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$56.88.
Get Our Latest Analysis on Fortis
Fortis Price Performance
Fortis (TSE:FTS – Get Free Report) last issued its quarterly earnings data on Friday, February 9th. The company reported C$0.72 EPS for the quarter, hitting analysts’ consensus estimates of C$0.72. The firm had revenue of C$2.89 billion during the quarter, compared to the consensus estimate of C$3.22 billion. Fortis had a return on equity of 7.41% and a net margin of 13.66%. On average, research analysts forecast that Fortis will post 3.2119367 earnings per share for the current year.
Insider Activity at Fortis
In other news, Director Margarita Dilley bought 960 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of C$38.57 per share, with a total value of C$37,027.20. In related news, Director Margarita Dilley purchased 960 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of C$38.57 per share, for a total transaction of C$37,027.20. Also, Director Brian Slocum purchased 1,888 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average price of C$39.18 per share, with a total value of C$73,971.65. Insiders bought 2,851 shares of company stock valued at $111,115 over the last 90 days. 0.04% of the stock is currently owned by corporate insiders.
About Fortis
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.
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