Fortis (TSE:FTS) Price Target Raised to C$90.00

Fortis (TSE:FTS) had its target price lifted by TD from C$87.00 to C$90.00 in a report issued on Wednesday morning,BayStreet reports. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on FTS. Canadian Imperial Bank of Commerce cut their price target on Fortis from C$82.00 to C$78.00 in a report on Tuesday, September 22nd. Desjardins set a C$85.00 target price on Fortis and gave the stock a “buy” rating in a report on Tuesday, October 27th. BMO Capital Markets lifted their price target on shares of Fortis from C$81.00 to C$85.00 and gave the company a “market perform” rating in a research report on Wednesday. Barclays decreased their price target on shares of Fortis from C$82.00 to C$76.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Finally, National Bank Financial upped their price objective on shares of Fortis from C$83.00 to C$84.00 and gave the stock a “sector perform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fortis presently has a consensus rating of “Hold” and an average price target of C$81.95.

Fortis Trading Down 1.0%

FTS stock traded down C$0.88 during mid-day trading on Wednesday, reaching C$84.91. The company’s stock had a trading volume of 2,514,880 shares, compared to its average volume of 1,612,690. The company has a market cap of C$43.80 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 3.01 and a beta of 0.49. Fortis has a 12 month low of C$69.06 and a 12 month high of C$86.35. The business’s 50 day moving average price is C$77.61 and its 200 day moving average price is C$77.89. The company has a current ratio of 0.69, a quick ratio of 0.36 and a debt-to-equity ratio of 146.51.

Fortis (TSE:FTS) last issued its earnings results on Tuesday, November 3rd. The company reported C$0.92 EPS for the quarter. Fortis had a return on equity of 7.57% and a net margin of 15.04%. The company had revenue of C$3.12 billion during the quarter. On average, equities research analysts predict that Fortis will post 3.34 EPS for the current year.

Fortis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.6650 per share. This is an increase from Fortis’s previous quarterly dividend of $0.64. This represents a $2.66 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, November 17th. Fortis’s dividend payout ratio (DPR) is currently 72.73%.

Insider Buying and Selling

In related news, insider James Reid sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of C$85.83, for a total transaction of C$2,145,750.00. Following the completion of the transaction, the insider directly owned 31,419 shares in the company, valued at C$2,696,692.77. The trade was a 44.31% decrease in their ownership of the stock. 0.04% of the stock is currently owned by insiders.

Fortis Company Profile

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation’s 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.