Fortis Inc (FTS)’s Trend Up, Especially After Today’s 52-Week High Milestone

June 19, 2017 - By Linda Rogers

The stock of Fortis Inc (TSE:FTS) hit a new 52-week high and has $50.19 target or 9.00 % above today’s $46.05 share price. The 7 months bullish chart indicates low risk for the $19.25 billion company. The 1-year high was reported on Jun, 19 by Barchart.com. If the $50.19 price target is reached, the company will be worth $1.73 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 162,079 shares traded. Fortis Inc (TSE:FTS) has 0.00% since June 19, 2016 and is . It has underperformed by 16.70% the S&P500.

Analysts await Fortis Inc (TSE:FTS) to report earnings on August, 4. FTS’s profit will be $163.03M for 29.52 P/E if the $0.39 EPS becomes a reality. After $0.53 actual earnings per share reported by Fortis Inc for the previous quarter, Wall Street now forecasts -26.42 % negative EPS growth.

Fortis Inc (TSE:FTS) Ratings Coverage

Among 10 analysts covering Fortis Incorporated (TSE:FTS), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Fortis Incorporated had 25 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was reinitiated by Barclays Capital on Wednesday, March 29 with “Outperform”. The stock has “Outperform” rating by IBC on Friday, February 17. The stock of Fortis Inc (TSE:FTS) has “Outperform” rating given on Tuesday, January 24 by RBC Capital Markets. The firm has “Buy” rating by Desjardins Securities given on Thursday, November 24. On Wednesday, October 7 the stock rating was maintained by RBC Capital Markets with “Outperform”. Raymond James maintained it with “Outperform” rating and $50 target in Thursday, September 22 report. The rating was downgraded by IBC on Wednesday, July 20 to “Sector Perform”. The firm has “Neutral” rating by JP Morgan given on Monday, February 27. The stock of Fortis Inc (TSE:FTS) has “Mkt Perform” rating given on Tuesday, January 17 by Raymond James. The stock of Fortis Inc (TSE:FTS) has “Outperform” rating given on Friday, February 17 by Scotia Capital.

More notable recent Fortis Inc (TSE:FTS) news were published by: Fool.ca which released: “Now Is Not the Best Time to Buy Fortis Inc.” on June 16, 2017, also Marketwired.com with their article: “Fortis Inc. Shareholders Approve Election of Directors, Appointment of …” published on May 04, 2017, Fool.ca published: “Give Your Portfolio a Jolt With Fortis Inc.” on May 17, 2017. More interesting news about Fortis Inc (TSE:FTS) were released by: Fool.ca and their article: “Is Fortis Inc. the Right Utility for Your Portfolio?” published on April 25, 2017 as well as Fool.ca‘s news article titled: “Buy Fortis Inc. for More Than Income” with publication date: March 21, 2017.

Fortis Inc. is a Canada-based electric and gas utility holding company. The company has market cap of $19.25 billion. The Company’s divisions include Regulated Utilities and Non-Regulated Utilities. It has a 22.71 P/E ratio. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. , UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc. (FortisAlberta), FortisBC Energy Inc. (FortisBC Energy), FortisBC Inc. (FortisBC Electric) and Newfoundland Power Inc. (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.

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