Fortis (TSE:FTS) Stock Price Expected to Rise, UBS Group Analyst Says

Fortis (TSE:FTS) had its target price upped by equities researchers at UBS Group from C$58.00 to C$63.00 in a research note issued to investors on Friday,BayStreet.CA reports. UBS Group’s price target points to a potential downside of 2.40% from the stock’s previous close.

A number of other research analysts have also weighed in on FTS. Raymond James lifted their price objective on shares of Fortis from C$61.00 to C$62.50 in a research note on Tuesday, February 18th. Scotiabank lifted their price objective on shares of Fortis from C$63.00 to C$66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Jefferies Financial Group set a C$67.00 price objective on shares of Fortis and gave the company a “hold” rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted their price objective on shares of Fortis from C$65.00 to C$69.00 in a research note on Tuesday, February 18th. Finally, CIBC raised their price target on shares of Fortis from C$64.00 to C$65.00 in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$62.50.

Fortis Trading Down 0.3 %

Shares of FTS stock opened at C$64.55 on Friday. Fortis has a 12-month low of C$51.02 and a 12-month high of C$65.26. The firm has a market cap of C$31.93 billion, a P/E ratio of 19.16, a PEG ratio of 3.01 and a beta of 0.23. 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 company has a 50 day moving average of C$62.51 and a 200-day moving average of C$61.44.

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.