Fortis (TSE:FTS) Given a C$67.00 Price Target by Jefferies Financial Group Analysts

Jefferies Financial Group set a C$67.00 target price on Fortis (TSE:FTS) in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has a hold rating on the stock.

Several other research firms have also recently weighed in on FTS. CIBC upped their target price on Fortis from C$63.00 to C$64.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Raymond James cut Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$61.80.

Fortis Stock Up 0.3 %

TSE FTS opened at C$62.89 on Thursday. The business has a fifty day moving average price of C$60.71 and a two-hundred day moving average price of C$60.46. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. Fortis has a fifty-two week low of C$51.02 and a fifty-two week high of C$63.75. The stock has a market capitalization of C$31.11 billion, a PE ratio of 18.67, a PEG ratio of 3.01 and a beta of 0.23.

Fortis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be given a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 3.91%. Fortis’s dividend payout ratio is currently 73.02%.

Insider Buying and Selling

In related news, Senior Officer Jocelyn Perry sold 11,809 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total transaction of C$746,178.83. 0.04% of the stock is owned by corporate insiders.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.