Fortis (TSE:FTS) Stock Price Target Lowered at Barclays

Fortis (TSE:FTS) had its target price cut by equities research analysts at Barclays from C$82.00 to C$76.00 in a research note issued on Wednesday, BayStreet reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 1.02% from the company’s current price.

A number of other research firms have also recently weighed in on FTS. Canadian Imperial Bank of Commerce dropped their price objective on shares of Fortis from C$82.00 to C$78.00 in a report on Tuesday, September 22nd. Desjardins boosted their target price on shares of Fortis from C$81.00 to C$85.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$79.23.

Fortis Trading Down 0.0%

TSE:FTS opened at C$75.23 on Wednesday. Fortis has a 12-month low of C$69.06 and a 12-month high of C$83.75. The company has a debt-to-equity ratio of 143.60, a current ratio of 0.56 and a quick ratio of 0.36. The business has a 50 day simple moving average of C$77.51 and a 200 day simple moving average of C$78.24. The firm has a market capitalization of C$38.44 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.01 and a beta of 0.34.

Fortis (TSE:FTS) last posted its earnings results on Friday, July 31st. The company reported C$0.78 earnings per share (EPS) for the quarter. Fortis had a return on equity of 7.43% and a net margin of 14.72%.The company had revenue of C$2.93 billion for the quarter. Equities research analysts predict that Fortis will post 3.3419913 EPS for the current year.

About Fortis

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.