Fortis (TSE:FTS) Downgraded by Raymond James Financial to Market Perform

Fortis (TSE:FTS) was downgraded by stock analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, BayStreet reports. They currently have a C$86.50 target price on the stock, up from their previous target price of C$85.50. Raymond James Financial‘s price objective indicates a potential upside of 1.75% from the stock’s previous close.

A number of other research analysts also recently issued reports on FTS. BMO Capital Markets boosted their price target on shares of Fortis from C$81.00 to C$85.00 and gave the stock a “market perform” rating in a research report on Wednesday. Desjardins increased their price objective on shares of Fortis from C$85.00 to C$90.00 and gave the stock a “buy” rating in a research report on Wednesday. National Bank Financial lifted their target price on shares of Fortis from C$83.00 to C$84.00 and gave the stock a “sector perform” rating in a research note on Wednesday. TD lifted their target price on shares of Fortis from C$87.00 to C$90.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays dropped their target price on shares of Fortis from C$82.00 to C$76.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$81.68.

Fortis Trading Up 1.7%

Shares of FTS traded up C$1.43 during mid-day trading on Wednesday, reaching C$85.01. 1,225,924 shares of the company were exchanged, compared to its average volume of 1,598,645. Fortis has a 52 week low of C$69.06 and a 52 week high of C$85.19. The company has a debt-to-equity ratio of 143.60, a quick ratio of 0.36 and a current ratio of 0.56. The stock has a market capitalization of C$43.43 billion, a PE ratio of 25.00, a PEG ratio of 3.01 and a beta of 0.34. The business has a 50 day simple moving average of C$77.08 and a two-hundred day simple moving average of C$77.70.

Fortis (TSE:FTS) last announced its earnings results on Tuesday, November 3rd. The company reported C$0.92 EPS for the quarter. Fortis had a return on equity of 7.43% and a net margin of 14.72%. The business had revenue of C$3.12 billion for the quarter. On average, analysts predict that Fortis will post 3.34 earnings per share for the current fiscal year.

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.