Fortis (TSE:FTS) PT Lowered to C$60.00 at BMO Capital Markets

Fortis (TSE:FTSGet Rating) had its price target decreased by BMO Capital Markets from C$62.00 to C$60.00 in a research note released on Tuesday morning, BayStreet.CA reports.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Fortis from C$60.00 to C$64.00 in a research report on Tuesday, August 23rd. UBS Group lowered shares of Fortis from a neutral rating to a sell rating and decreased their target price for the company from C$61.00 to C$56.00 in a research report on Thursday, June 30th. CSFB cut their price target on shares of Fortis from C$66.00 to C$62.00 in a report on Friday, July 22nd. Credit Suisse Group cut their price target on shares of Fortis to C$62.00 and set a neutral rating for the company in a report on Friday, July 22nd. Finally, Wells Fargo & Company downgraded shares of Fortis to a sell rating in a report on Wednesday, June 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to, Fortis has a consensus rating of Hold and an average target price of C$61.29.

Fortis Stock Performance

TSE FTS opened at C$56.27 on Tuesday. The company has a debt-to-equity ratio of 123.72, a current ratio of 0.64 and a quick ratio of 0.40. The firm has a market capitalization of C$26.94 billion and a price-to-earnings ratio of 21.31. The company’s fifty day moving average is C$59.27 and its two-hundred day moving average is C$61.00. Fortis has a 52-week low of C$54.73 and a 52-week high of C$65.26.

Fortis (TSE:FTSGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported C$0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.05). The business had revenue of C$2.49 billion for the quarter, compared to the consensus estimate of C$2.25 billion. Equities research analysts forecast that Fortis will post 2.9600002 EPS for the current year.

Fortis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 19th were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, August 18th. Fortis’s dividend payout ratio is 79.92%.

About Fortis

(Get Rating)

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 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 MV of wind capacity.

Further Reading

Analyst Recommendations for Fortis (TSE:FTS)

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