Fortis (TSE:FTS) Price Target Raised to C$84.00

Fortis (TSE:FTS) had its target price increased by National Bank Financial from C$83.00 to C$84.00 in a research report released on Wednesday,BayStreet reports. The firm currently has a sector perform rating on the stock.

Several other research firms have also commented on FTS. Canadian Imperial Bank of Commerce reduced their price objective on shares of Fortis from C$82.00 to C$78.00 in a research note on Tuesday, September 22nd. Desjardins set a C$85.00 price objective on Fortis and gave the company a “buy” rating in a report on Tuesday, October 27th. BMO Capital Markets upped their price target on shares of Fortis from C$81.00 to C$85.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Barclays lowered their price objective on shares of Fortis from C$82.00 to C$76.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Three 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 stock has a consensus rating of “Hold” and an average price target of C$81.95.

Fortis Stock Down 1.0%

FTS stock traded down C$0.88 during trading on Wednesday, reaching C$84.91. 2,514,880 shares of the company traded hands, compared to its average volume of 1,612,690. The business has a 50 day simple moving average of C$77.61 and a 200 day simple moving average of C$77.89. Fortis has a 12 month low of C$69.06 and a 12 month high of C$86.35. The company has a debt-to-equity ratio of 146.51, a quick ratio of 0.36 and a current ratio of 0.69. The company has a market capitalization of C$43.80 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 3.01 and a beta of 0.49.

Fortis (TSE:FTS) last announced its earnings results on Tuesday, November 3rd. The company reported C$0.92 EPS for the quarter. The business had revenue of C$3.12 billion during the quarter. Fortis had a net margin of 15.04% and a return on equity of 7.57%. On average, equities research analysts anticipate that Fortis will post 3.34 earnings per share for the current fiscal year.

Fortis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, December 1st will be issued a $0.6650 dividend. This represents a $2.66 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, November 17th. This is a positive change from Fortis’s previous quarterly dividend of $0.64. Fortis’s payout ratio is presently 72.73%.

Insider Buying and Selling

In other Fortis news, insider James Reid sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of C$85.83, for a total transaction of C$2,145,750.00. Following the completion of the transaction, the insider owned 31,419 shares of the company’s stock, valued at C$2,696,692.77. This represents a 44.31% decrease in their ownership of the stock. Company insiders own 0.04% of the company’s stock.

Fortis Company Profile

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.