Fortis (TSE:FTS) Shares Pass Above 200 Day Moving Average – What’s Next?

Posted by Cheyenne Larson on Apr 13th, 2025

Fortis Inc. (TSE:FTS – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$61.91 and traded as high as C$64.84. Fortis shares last traded at C$64.64, with a volume of 1,630,535 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on FTS. Scotiabank upped their price target on Fortis from C$63.00 to C$66.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. CIBC boosted their target price on Fortis from C$65.00 to C$68.00 in a research report on Friday, April 4th. 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. Raymond James upped their price objective on Fortis from C$61.00 to C$62.50 in a report on Tuesday, February 18th. Finally, Royal Bank of Canada raised their target price on shares of Fortis from C$65.00 to C$69.00 in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$62.77.

Get Our Latest Stock Analysis on Fortis

Fortis Price Performance

The firm has a market cap of C$31.98 billion, a P/E ratio of 19.19, a PEG ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The stock’s 50-day simple moving average is C$63.76 and its two-hundred day simple moving average is C$61.91.

Fortis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be given a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 3.81%. Fortis’s dividend payout ratio (DPR) 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.