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

Fortis (TSE:FTS) had its price objective raised by Raymond James from C$61.00 to C$62.50 in a research report report published 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.

FTS has been the topic of several other research reports. Royal Bank of Canada boosted their price target on Fortis from C$65.00 to C$69.00 in a research report on Tuesday. CIBC boosted their target price 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. Scotiabank increased their price target on shares of Fortis from C$63.00 to C$66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Finally, 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. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$62.45.

Fortis Price Performance

Shares of TSE FTS opened at C$62.05 on Tuesday. 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 business has a 50-day moving average of C$60.79 and a 200-day moving average of C$60.70. The stock has a market capitalization of C$30.70 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 3.01 and a beta of 0.23. Fortis has a fifty-two week low of C$51.02 and a fifty-two week high of C$64.39.

Fortis Announces Dividend

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

Insider Transactions at Fortis

In other Fortis news, Senior Officer Jocelyn Perry sold 11,809 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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.