Jefferies Financial Group Has Lowered Expectations for Fortis (TSE:FTS) Stock Price

Fortis (TSE:FTS) had its price target decreased by stock analysts at Jefferies Financial Group from C$72.00 to C$70.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential downside of 3.22% from the stock’s current price.

FTS has been the topic of a number of other reports. Royal Bank Of Canada upped their price target on shares of Fortis from C$72.00 to C$79.00 in a research note on Wednesday, November 5th. Raymond James Financial boosted their target price on shares of Fortis from C$72.00 to C$75.50 and gave the company an “outperform” rating in a report on Friday, October 24th. BMO Capital Markets raised their price target on Fortis from C$72.00 to C$74.00 in a report on Wednesday, November 5th. CIBC lifted their price target on Fortis from C$75.00 to C$76.00 in a research report on Wednesday, December 17th. Finally, TD Securities increased their price objective on Fortis from C$77.00 to C$79.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Fortis currently has an average rating of “Moderate Buy” and an average price target of C$74.65.

Fortis Stock Up 0.0%

FTS stock opened at C$72.33 on Wednesday. The stock has a fifty day moving average of C$71.49 and a 200-day moving average of C$70.24. Fortis has a fifty-two week low of C$60.50 and a fifty-two week high of C$74.00. The company has a market capitalization of C$36.28 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 3.01 and a beta of 0.31. 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 (TSE:FTS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.87 earnings per share (EPS) for the quarter. The business had revenue of C$2.94 billion for the quarter. Fortis had a return on equity of 7.48% and a net margin of 14.53%. As a group, equities research analysts predict that Fortis will post 3.3419913 earnings per share for the current year.

About Fortis

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. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.