Fortis (TSE:FTS) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Fortis (TSE:FTS) had its price target upped by equities researchers at Royal Bank of Canada from C$69.00 to C$72.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 7.61% from the company’s previous close.

Several other research analysts have also weighed in on the company. CIBC upped their price target on Fortis from C$68.00 to C$69.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Scotiabank upped their target price on Fortis from C$66.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday. Jefferies Financial Group increased their price target on shares of Fortis from C$67.00 to C$70.00 in a research report on Monday, April 14th. Raymond James lowered their price objective on shares of Fortis from C$69.00 to C$62.50 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group increased their target price on shares of Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$64.25.

Fortis Trading Down 0.9 %

TSE FTS opened at C$66.91 on Thursday. The firm’s 50 day moving average price is C$65.48 and its two-hundred day moving average price is C$62.80. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. Fortis has a twelve month low of C$52.19 and a twelve month high of C$69.24. The stock has a market cap of C$33.10 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.01 and a beta of 0.23.

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.