Were Analysts Bearish Fortis Inc. (TSE:FTS) This Week?

March 14, 2018 - By Migdalia James

 Were Analysts Bearish Fortis Inc. (TSE:FTS) This Week?

Fortis Inc. (TSE:FTS) Ratings Coverage

Among 7 analysts covering Fortis Incorporated (TSE:FTS), 5 have Buy rating, 0 Sell and 2 Hold. Therefore 71% are positive. Fortis Incorporated had 29 analyst reports since August 4, 2015 according to SRatingsIntel. On Friday, February 17 the stock rating was upgraded by IBC to “Outperform”. Raymond James maintained it with “Outperform” rating and $50 target in Thursday, September 22 report. The firm has “Outperform” rating given on Tuesday, January 24 by RBC Capital Markets. The company was maintained on Thursday, November 24 by Desjardins Securities. The firm has “Neutral” rating given on Monday, February 27 by JP Morgan. The firm has “Outperform” rating given on Friday, February 17 by Scotia Capital. The rating was maintained by TD Securities with “Buy” on Friday, March 3. The firm has “Outperform” rating by Barclays Capital given on Wednesday, March 29. IBC downgraded Fortis Inc. (TSE:FTS) on Wednesday, July 20 to “Sector Perform” rating. As per Wednesday, October 7, the company rating was maintained by RBC Capital Markets. Below is a list of Fortis Inc. (TSE:FTS) latest ratings and price target changes.

20/10/2017 Broker: JP Morgan Rating: Old Target: $47.00 New Target: $48.00 Target Up
17/10/2017 Broker: IBC Rating: Old Target: $48.00 New Target: $49.00 Target Up
15/09/2017 Broker: BMO Capital Markets Rating: Old Target: $51.50 New Target: $51.00 Targert Up

The stock decreased 0.67% or $0.29 during the last trading session, reaching $42.8. About 500,666 shares traded. Fortis Inc. (TSE:FTS) has 0.00% since March 14, 2017 and is . It has underperformed by 16.70% the S&P500.

Fortis Inc. operates as an electric and gas utility firm in Canada, the United States, and the Caribbean. The company has market cap of $18.02 billion. It generates, transmits, and distributes electricity to approximately 420,000 retail clients in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail clients in ArizonaÂ’s Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts comprising 54 MW of solar capacity. It has a 18.53 P/E ratio. The firm also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 64 MW; and distributes natural gas to approximately 994,000 clients in approximately 135 communities in British Columbia, Canada.

More notable recent Fortis Inc. (TSE:FTS) news were published by: Nasdaq.com which released: “Fortis Inc. (FTS) Ex-Dividend Date Scheduled for February 14, 2018” on February 13, 2018, also Marketwired.com with their article: “Fortis Inc. Reports 2017 Fourth-Quarter and Annual Financial Results” published on February 15, 2018, Fool.ca published: “Fortis Inc. Down 8% Year to Date: Time to Buy?” on February 26, 2018. More interesting news about Fortis Inc. (TSE:FTS) were released by: Seekingalpha.com and their article: “Fortis: A Utility To Buy For The Long-Term” published on March 10, 2018 as well as Fool.ca‘s news article titled: “Fortis Inc. Buy Now and Get Rich Later” with publication date: March 10, 2018.

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