Fortis (TSE:FTS) Price Target Raised to C$62.50

Fortis (TSE:FTS) had its target price increased by Raymond James from C$61.00 to C$62.50 in a report issued on Tuesday morning,BayStreet.CA reports. Raymond James also issued estimates for Fortis’ Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.69 EPS, Q3 2025 earnings at $0.80 EPS and FY2025 earnings at $3.34 EPS.

Several other equities research analysts also recently commented on the company. Royal Bank of Canada boosted their price objective on Fortis from C$65.00 to C$69.00 in a report on Tuesday. Jefferies Financial Group set a C$67.00 price target on shares of Fortis and gave the company a “hold” rating in a research note on Thursday, February 13th. CIBC upped their price objective on shares of Fortis from C$63.00 to C$64.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, Scotiabank lifted their price objective on shares of Fortis from C$63.00 to C$66.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$62.45.

Fortis Stock Performance

TSE:FTS opened at C$62.05 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31. The company has a fifty day moving average of C$60.79 and a 200-day moving average of C$60.70. The firm has a market capitalization of C$30.70 billion, a P/E ratio of 18.42, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a twelve month low of C$51.02 and a twelve month high of C$64.39.

Fortis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be given a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 3.96%. Fortis’s payout ratio is 73.02%.

Insider Buying and Selling at Fortis

In other news, Senior Officer Jocelyn Perry sold 11,809 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total value of C$746,178.83. Company insiders own 0.04% of the company’s stock.

Fortis Company Profile

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.