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

Fortis (TSE:FTS) had its price objective increased by Royal Bank Of Canada from C$79.00 to C$80.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 3.33% from the company’s previous close.

Other research analysts also recently issued research reports about the company. BMO Capital Markets upped their price objective on Fortis from C$74.00 to C$77.00 and gave the stock a “market perform” rating in a report on Friday. Scotiabank raised their price target on Fortis from C$79.00 to C$80.00 and gave the company a “sector perform” rating in a report on Friday. Raymond James Financial boosted their price objective on Fortis from C$72.00 to C$75.50 and gave the stock an “outperform” rating in a report on Friday, October 24th. Desjardins upped their target price on shares of Fortis from C$76.00 to C$79.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group lowered their price target on shares of Fortis from C$72.00 to C$70.00 in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Fortis presently has a consensus rating of “Moderate Buy” and a consensus price target of C$75.65.

Fortis Stock Up 1.4%

Shares of TSE:FTS opened at C$77.42 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31. The firm has a market cap of C$39.13 billion, a P/E ratio of 23.04, a P/E/G ratio of 3.01 and a beta of 0.35. Fortis has a 12 month low of C$60.94 and a 12 month high of C$77.59. The company’s 50-day moving average price is C$71.89 and its two-hundred day moving average price is C$70.92.

Fortis (TSE:FTS) last announced its earnings results on Thursday, February 12th. The company reported C$0.90 earnings per share for the quarter. Fortis had a net margin of 14.53% and a return on equity of 7.48%. The company had revenue of C$3.08 billion during the quarter. As a group, research analysts forecast that Fortis will post 3.3419913 EPS for the current fiscal year.

Trending Headlines about Fortis

Here are the key news stories impacting Fortis this week:

• Positive Sentiment: Q4 earnings beat — Fortis reported C$0.90 EPS and C$3.08B revenue; commentary pointed to strong regulated utility growth and asset expansion. Fortis beats Q4 earnings expectations
• Positive Sentiment: Quarterly dividend declared — C$0.64 per share (annualized yield ~3.3%); ex-dividend date Feb 17, record date Mar 1. Income investors may favor the stock on the payout stability.
• Positive Sentiment: Desjardins raised its target to C$81 and kept a “buy” rating (largest upside among recent raises). BayStreet.CA
• Positive Sentiment: Raymond James raised its target to C$78.50 and kept an “outperform” rating, signaling continued bullish analyst view. BayStreet.CA TickerReport
• Neutral Sentiment: RBC and Scotiabank raised targets to C$80 (both keep “sector perform”) — modest upside but not full upgrades. BayStreet.CA
• Negative Sentiment: BMO lifted its target to C$77 and maintains a “market perform” rating — the target sits slightly below the recent price, implying limited upside/neutral-to-slightly-negative near term. BayStreet.CA

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