Fortis (TSE:FTS) Stock Moved Down to Hold by Raymond James Financial

Fortis (TSE:FTS) was downgraded by analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a C$86.50 target price on the stock, up from their prior target price of C$85.50. Raymond James Financial‘s price target would indicate a potential upside of 1.73% from the company’s current price.

Several other brokerages also recently commented on FTS. BMO Capital Markets lifted their target price on shares of Fortis from C$81.00 to C$85.00 and gave the stock a “market perform” rating in a report on Wednesday. Canadian Imperial Bank of Commerce lowered their price target on shares of Fortis from C$82.00 to C$78.00 in a report on Tuesday, September 22nd. Barclays cut their price objective on shares of Fortis from C$82.00 to C$76.00 and set an “overweight” rating for the company in a research report on Wednesday, September 30th. National Bank Financial boosted their price objective on Fortis from C$83.00 to C$84.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, TD upped their target price on Fortis from C$87.00 to C$90.00 and gave the company a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Fortis has an average rating of “Hold” and a consensus target price of C$81.95.

Fortis Trading Up 1.7%

Shares of Fortis stock opened at C$85.03 on Wednesday. The business has a fifty day simple moving average of C$77.25 and a two-hundred day simple moving average of C$77.76. Fortis has a 1 year low of C$69.06 and a 1 year high of C$85.19. The company has a market capitalization of C$43.44 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 3.01 and a beta of 0.34. The company has a debt-to-equity ratio of 146.51, a current ratio of 0.69 and a quick ratio of 0.36.

Fortis (TSE:FTS) last released its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.92 EPS for the quarter. The firm had revenue of C$3.12 billion during the quarter. Fortis had a net margin of 15.04% and a return on equity of 7.57%. Research analysts forecast that Fortis will post 3.34 EPS for the current year.

Fortis News Summary

Here are the key news stories impacting Fortis this week:

• Positive Sentiment: Higher earnings and a larger dividend: Fortis reported Q3 earnings of C$0.92 per share and revenue of C$3.12 billion, with profit higher year over year. It also raised its quarterly dividend by 4%, extending its dividend-growth streak to 53 years. Fortis Reports Higher Earnings and Raises Quarterly Dividend
• Positive Sentiment: Longer-term growth outlook: The company’s C$32.2 billion, five-year capital plan targets 7.5% annual rate-base growth. Fortis also expects to grow its dividend by 4%–6% annually through 2031, giving investors visibility into planned expansion and dividend growth. Fortis outlines capital plan and dividend-growth outlook
• Positive Sentiment: Some analysts see further upside: TD and Desjardins raised their price targets to C$90 and maintained or assigned Buy ratings, indicating potential upside from the reported C$85.03 share price. TD analyst recommendations
• Neutral Sentiment: More cautious target changes: BMO raised its target to C$85 while keeping a Market Perform rating; National Bank raised its target to C$84 and kept Sector Perform. These changes reflect limited anticipated upside at the cited share price. BMO raises price target, keeps Market Perform rating
• Negative Sentiment: One downgrade tempers optimism: Raymond James cut its rating from Outperform to Market Perform, despite raising its price target to C$86.50. The move signals a more restrained view of near-term performance. Raymond James analyst recommendations

About Fortis

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.