Fortis (TSE:FTS) Given New C$85.00 Price Target at BMO Capital Markets

Fortis (TSE:FTS) had its price target upped by equities research analysts at BMO Capital Markets from C$81.00 to C$85.00 in a research note issued on Wednesday, BayStreet reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets‘s target price would suggest a potential downside of 0.01% from the stock’s previous close.

Several other brokerages have also commented on FTS. Barclays decreased their target price on Fortis from C$82.00 to C$76.00 and set an “overweight” rating for the company in a research report on Wednesday, September 30th. Canadian Imperial Bank of Commerce dropped their price target on Fortis from C$82.00 to C$78.00 in a research report on Tuesday, September 22nd. Finally, Desjardins set a C$85.00 price objective on Fortis and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$81.68.

Fortis Stock Up 1.7%

Shares of FTS stock traded up C$1.43 during trading hours on Wednesday, hitting C$85.01. 1,225,924 shares of the company were exchanged, compared to its average volume of 1,598,645. The company has a debt-to-equity ratio of 143.60, a quick ratio of 0.36 and a current ratio of 0.56. Fortis has a one year low of C$69.06 and a one year high of C$85.19. The business’s 50-day simple moving average is C$77.08 and its two-hundred day simple moving average is C$77.70. The stock has a market capitalization of C$43.43 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 3.01 and a beta of 0.34.

Fortis (TSE:FTS) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.92 earnings per share for the quarter. Fortis had a return on equity of 7.43% and a net margin of 14.72%. The firm had revenue of C$3.12 billion during the quarter. Sell-side analysts predict that Fortis will post 3.34 EPS for the current fiscal year.

About Fortis

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation’s 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.