Trading Report: Today, Fortis Inc (FTS) Earns Buy Rating from Desjardins

Today, Fortis Inc (FTS) Earns Buy Rating from Desjardins

Desjardins reiterated their buy rating on shares of Fortis Inc (TSE:FTS) in a report published on Thursday. Desjardins currently has a C$46.00 price objective on the stock.

FTS has been the topic of a number of other research reports. Raymond James Financial Inc. reiterated an outperform rating and issued a C$50.00 target price on shares of Fortis in a research report on Thursday, September 22nd. Royal Bank Of Canada lifted their target price on Fortis from C$48.00 to C$52.00 and gave the company an outperform rating in a research report on Wednesday, August 3rd. CIBC lifted their target price on Fortis from C$44.00 to C$47.00 in a research report on Wednesday, September 28th. Scotiabank reiterated an outperform rating and issued a C$48.00 target price on shares of Fortis in a research report on Wednesday, October 12th. Finally, TD Securities lifted their target price on Fortis from C$48.00 to C$49.00 and gave the company a buy rating in a research report on Tuesday, August 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of C$46.80.

Shares of Fortis (TSE:FTS) opened at 41.26 on Thursday. Fortis has a 12 month low of $35.51 and a 12 month high of $44.87. The company has a 50 day moving average of $41.96 and a 200-day moving average of $42.13. The firm has a market capitalization of $16.50 billion and a P/E ratio of 22.02.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 18th will be issued a dividend of $0.40 per share. This is a boost from Fortis’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Wednesday, November 16th.

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