Fortis Inc (NYSE:FTS) Given Average Recommendation of “Hold” by Brokerages

Fortis Inc (NYSE:FTS) has received an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $52.33.

A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Fortis from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Bank of America set a $54.00 price target on shares of Fortis and gave the stock a “buy” rating in a report on Thursday, May 2nd. ValuEngine upgraded shares of Fortis from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Finally, UBS Group reiterated a “buy” rating on shares of Fortis in a report on Friday, June 7th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bremer Bank National Association bought a new position in Fortis during the first quarter worth $27,000. NumerixS Investment Technologies Inc raised its stake in Fortis by 37.5% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the utilities provider’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Lindbrook Capital LLC raised its stake in Fortis by 55.7% during the first quarter. Lindbrook Capital LLC now owns 1,736 shares of the utilities provider’s stock worth $64,000 after buying an additional 621 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in Fortis by 1,617.6% during the first quarter. Winslow Evans & Crocker Inc. now owns 1,752 shares of the utilities provider’s stock worth $66,000 after buying an additional 1,650 shares during the last quarter. Finally, Executive Wealth Management LLC bought a new position in Fortis during the fourth quarter worth $153,000. 52.02% of the stock is owned by institutional investors and hedge funds.

Shares of FTS opened at $39.99 on Friday. Fortis has a 12 month low of $31.37 and a 12 month high of $40.15. The stock’s 50 day simple moving average is $38.91. The company has a market capitalization of $17.26 billion, a PE ratio of 20.94, a PEG ratio of 4.01 and a beta of 0.18. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.70 and a quick ratio of 0.62.

Fortis (NYSE:FTS) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.72 billion. Fortis had a net margin of 12.61% and a return on equity of 6.44%. During the same quarter last year, the business posted $0.69 earnings per share. As a group, sell-side analysts forecast that Fortis will post 1.95 EPS for the current year.

About Fortis

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

Recommended Story: What is the Coverage Ratio?

Analyst Recommendations for Fortis (NYSE:FTS)

Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.