Fortis Inc. (FTS), the Utilities sector company was revisited today, yet the Wall Street analyst remains currently on the sidelines. Analyst Patrick Kenny from National Bank remains neutral on the stock and has a C$47 price target.
According to TipRanks.com, Kenny is a 1-star analyst with an average return of -1.8% and a 54.5% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fortis Inc. with a C$48.67 average price target.
Based on Fortis Inc.’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$2.04 billion and net profit of C$292 million. In comparison, last year the company earned revenue of C$2.11 billion and had a net profit of C$150 million.
Fortis, Inc. is an international electric and gas utility holding company. It operates through the following business segments: Regulated Utilities-United States, Regulated Utilities-Canadian, Regulated Utilities-Caribbean, Non-Regulated-Energy Infrastructure, and Corporate & Other.
The company’s shares closed on Wednesday at C$46.40, close to its 52-week high of C$47.36.
