Fortis (TSE:FTS) Sets New 1-Year High – What’s Next?

Posted by Steve Fairfield on Apr 3rd, 2025

Fortis Inc. (TSE:FTS – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$67.52 and last traded at C$66.74, with a volume of 399448 shares traded. The stock had previously closed at C$66.11.

Wall Street Analysts Forecast Growth

FTS has been the subject of a number of analyst reports. Jefferies Financial Group set a C$67.00 price target on Fortis and gave the company a “hold” rating in a report on Thursday, February 13th. Scotiabank increased their target price on Fortis from C$63.00 to C$66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted their price target on shares of Fortis from C$65.00 to C$69.00 in a research note on Tuesday, February 18th. Raymond James upped their price target on shares of Fortis from C$61.00 to C$62.50 in a report on Tuesday, February 18th. Finally, CIBC raised their price objective on shares of Fortis from C$64.00 to C$65.00 in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Fortis has a consensus rating of “Hold” and a consensus target price of C$62.50.

View Our Latest Report on Fortis

Fortis Trading Up 0.9 %

The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31. The firm’s 50 day moving average is C$63.30 and its two-hundred day moving average is C$61.74. The stock has a market cap of C$32.99 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23.

Fortis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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 dividend yield of 3.69%. Fortis’s dividend payout ratio is currently 73.02%.

Fortis Company Profile

(Get Free Report)

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.