Fortis (FTS) PT Lowered to C$46.00 at TD Securities

Fortis (TSE:FTS) had its price objective decreased by TD Securities from C$51.00 to C$46.00 in a report published on Friday. TD Securities currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on FTS. Royal Bank of Canada raised their price target on shares of Fortis from C$51.00 to C$53.00 and gave the company an outperform rating in a research report on Monday, November 6th. Scotiabank raised their price target on shares of Fortis from C$50.00 to C$51.00 and gave the company an outperform rating in a research report on Monday, November 6th. JPMorgan Chase & Co. raised their price target on shares of Fortis from C$48.00 to C$49.00 in a research report on Monday, November 13th. CIBC raised their price target on shares of Fortis from C$49.00 to C$50.00 in a research report on Thursday, January 11th. Finally, National Bank Financial cut shares of Fortis from a sector perform market weight rating to an underperform market weight rating in a research report on Sunday, January 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of C$46.75.

Fortis (FTS) opened at C$42.08 on Friday. Fortis has a 1 year low of C$39.38 and a 1 year high of C$48.73. The firm has a market cap of $17,720.00, a PE ratio of 18.14 and a beta of -0.06.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be paid a $0.425 dividend. The ex-dividend date is Thursday, May 17th. This represents a $1.70 annualized dividend and a yield of 4.04%. Fortis’s dividend payout ratio (DPR) is 70.04%.

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About Fortis

Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.

Analyst Recommendations for Fortis (TSE:FTS)

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