A statement released earlier today by Raymond James about Fortis Inc (TSE:FTS) bumps the target price to $50.00
- Updated: September 22, 2016
Yesterday Fortis Inc (TSE:FTS) traded 0.50% higher at $42.47. The company’s 50-day moving average is $42.21 and its 200-day moving average is $41.45. The last stock close price is up 2.54% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 656,154 shares of the stock were exchanged, down from an average trading volume of 853,625
Raymond James bumped up the target of Fortis Inc (TSE:FTS) to $50.00 stating a potential upside of 0.18%.
Previously on 8/3/2016, RBC Capital Markets reported about Fortis Inc (TSE:FTS) raised the target price from $48.00 to $52.00. At the time, this indicated a possible upside of 0.21%.
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Fortis Inc has a 52 week low of $35.51 and a one year high of $44.87 with a PE ratio of 21.63 Fortis Inc’s market capitalization is currently $0.
In addition to Raymond James reporting its stock price target, a total of 9 brokers have issued a research note on the company. The average stock price target is $36.64 with 1 broker rating the stock a strong buy, 7 brokers rating the stock a buy, 3 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
Brief Synopsis On Fortis Inc (TSE:FTS)
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company's segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc. (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc. (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd. (Caribbean Utilities), Fortis Turks and Caicos, and its investment in Belize Electricity Limited (Belize Electricity). The Non-Regulated Utilities segment consists of Fortis Generation and Aitken Creek Gas Storage LLC, a provider of natural gas transmission and storage services.
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