TD Securities Lowers Fortis (TSE:FTS) Price Target to C$54.00

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Fortis (TSE:FTS) had its price objective decreased by analysts at TD Securities from C$55.00 to C$54.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price target would suggest a potential upside of 3.03% from the stock’s current price.

Several other research analysts have also recently issued reports on FTS. CSFB set a C$54.00 target price on shares of Fortis and gave the stock a “neutral” rating in a report on Tuesday, November 26th. BMO Capital Markets lowered shares of Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 11th. Royal Bank of Canada boosted their price target on shares of Fortis from C$56.00 to C$59.00 in a report on Wednesday, August 21st. CIBC upped their price target on shares of Fortis from C$55.00 to C$56.00 in a research report on Wednesday, September 11th. Finally, Raymond James set a C$55.00 price objective on shares of Fortis and gave the company a “market perform” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of C$55.70.

Shares of FTS stock traded up C$0.10 on Wednesday, hitting C$52.41. The stock had a trading volume of 821,639 shares, compared to its average volume of 1,163,756. The company has a quick ratio of 0.34, a current ratio of 0.56 and a debt-to-equity ratio of 126.57. The business has a 50 day moving average price of C$53.53 and a 200 day moving average price of C$53.37. The company has a market cap of $22.68 billion and a PE ratio of 14.42. Fortis has a one year low of C$43.49 and a one year high of C$56.94.

Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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Analyst Recommendations for Fortis (TSE:FTS)

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