Fortis (TSE:FTS) Price Target Raised to C$66.00 at Scotiabank

Fortis (TSE:FTS - Get Free Report) had its price objective hoisted by research analysts at Scotiabank from C$63.00 to C$66.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price target suggests a potential upside of 3.71% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group set a C$67.00 price target on Fortis and gave the stock a "hold" rating in a report on Thursday. CIBC lifted their target price on Fortis from C$63.00 to C$64.00 and gave the company a "neutral" rating in a research report on Wednesday, January 8th. Finally, Raymond James cut shares of Fortis from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat.com, Fortis presently has an average rating of "Hold" and a consensus price target of C$61.80.

Fortis Price Performance

TSE:FTS traded up C$0.75 during mid-day trading on Thursday, reaching C$63.64. The stock had a trading volume of 4,062,612 shares, compared to its average volume of 1,627,242. Fortis has a 12 month low of C$51.02 and a 12 month high of C$64.39. The stock has a market capitalization of C$31.48 billion, a PE ratio of 18.89, 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 current ratio of 0.74 and a quick ratio of 0.36. The stock has a 50-day simple moving average of C$60.72 and a two-hundred day simple moving average of C$60.56.

Insider Activity at Fortis

In other Fortis news, Senior Officer Jocelyn Perry sold 11,809 shares of Fortis 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. 0.04% of the stock is currently owned by company 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.