Fortis (TSE:FTS – Get Free Report) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. Raymond James also issued estimates for Fortis’ FY2024 earnings at $3.29 EPS, Q2 2025 earnings at $0.65 EPS and Q3 2025 earnings at $0.84 EPS.
Several other brokerages also recently issued reports on FTS. BMO Capital Markets upped their price target on shares of Fortis from C$59.00 to C$61.00 in a report on Thursday, September 5th. CIBC increased their target price on Fortis from C$57.00 to C$59.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on Fortis from C$52.00 to C$53.00 in a research note on Thursday, July 25th. Scotiabank upped their price objective on Fortis from C$56.00 to C$63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their target price on shares of Fortis from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$60.33.
Get Our Latest Stock Analysis on Fortis
Fortis Stock Up 0.1 %
Insider Transactions at Fortis
In related news, Senior Officer James Reid sold 19,972 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$59.46, for a total value of C$1,187,493.18. 0.04% of the stock is currently owned by corporate insiders.
Fortis Company Profile
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.
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