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

Fortis (TSE:FTS - Free Report) had its price target increased by Raymond James from C$61.00 to C$62.50 in a research note released on Tuesday,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 analysts have also recently weighed in on FTS. Scotiabank increased their price target on Fortis from C$63.00 to C$66.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada increased their target price on Fortis from C$65.00 to C$69.00 in a report on Tuesday. Jefferies Financial Group set a C$67.00 price objective on shares of Fortis and gave the stock a "hold" rating in a research note on Thursday, February 13th. Finally, CIBC increased their price objective on shares of Fortis from C$63.00 to C$64.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of C$62.45.

Fortis Stock Up 1.1 %

Shares of FTS traded up C$0.68 on Tuesday, hitting C$62.73. 2,494,219 shares of the stock traded hands, compared to its average volume of 1,726,503. The company has a market capitalization of C$31.03 billion, a PE ratio of 18.62, a P/E/G ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. The business has a 50 day simple moving average of C$60.82 and a 200 day simple moving average of C$60.74. Fortis has a one year low of C$51.02 and a one year high of C$64.39.

Fortis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be issued a $0.615 dividend. This represents a $2.46 annualized dividend and a yield of 3.92%. Fortis's dividend payout ratio (DPR) is presently 73.02%.

Insider Activity at Fortis

In other Fortis news, Senior Officer Jocelyn Perry sold 11,809 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total transaction of C$746,178.83. 0.04% of the stock is owned by corporate insiders.

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.