Analysts have been eager to weigh in on the Utilities sector with new ratings on Phillips 66 (PSX), Fortis (FTS) and Devon Energy (DVN).
Phillips 66 (PSX)
In a report issued on October 30, Brad Heffern from RBC Capital maintained a Buy rating on Phillips 66, with a price target of $66.00. The company’s shares closed last Tuesday at $47.52, close to its 52-week low of $40.04.
According to TipRanks.com, Heffern has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -4.1% and a 36.2% success rate. Heffern covers the Utilities sector, focusing on stocks such as Continental Resources, Par Pacific Holdings, and Marathon Petroleum.
Phillips 66 has an analyst consensus of Strong Buy, with a price target consensus of $66.11, representing a 36.0% upside. In a report issued on October 19, Morgan Stanley also maintained a Buy rating on the stock with a $63.00 price target.
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Fortis (FTS)
RBC Capital analyst Robert Kwan maintained a Buy rating on Fortis on October 30 and set a price target of C$60.00. The company’s shares closed last Tuesday at $39.97.
According to TipRanks.com, Kwan is a 5-star analyst with an average return of 9.2% and a 67.0% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, AltaGas, and Emera.
Fortis has an analyst consensus of Strong Buy, with a price target consensus of $46.02, a 14.3% upside from current levels. In a report issued on October 19, Scotiabank also maintained a Buy rating on the stock with a C$63.00 price target.
Devon Energy (DVN)
In a report issued on October 30, Scott Hanold from RBC Capital maintained a Hold rating on Devon Energy, with a price target of $14.00. The company’s shares closed last Tuesday at $9.64.
According to TipRanks.com, Hanold ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -16.7% and a 27.2% success rate. Hanold covers the Utilities sector, focusing on stocks such as Southwestern Energy, Matador Resources, and Concho Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Devon Energy with a $15.57 average price target.
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