Fortis (TSE:FTS) Given a C$67.00 Price Target by Jefferies Financial Group Analysts

Fortis (TSE:FTS) has been given a C$67.00 price objective by research analysts at Jefferies Financial Group in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 6.42% from the company’s previous close.

FTS has been the topic of several other research reports. Raymond James lowered shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. CIBC lifted their price objective on Fortis from C$63.00 to C$64.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$61.80.

Fortis Stock Up 0.4 %

Shares of Fortis stock traded up C$0.26 during midday trading on Thursday, hitting C$62.96. The company’s stock had a trading volume of 1,366,658 shares, compared to its average volume of 1,516,165. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31. Fortis has a 1-year low of C$51.02 and a 1-year high of C$63.75. The stock has a 50-day simple moving average of C$60.71 and a 200-day simple moving average of C$60.46. The firm has a market capitalization of C$31.15 billion, a P/E ratio of 18.69, a PEG ratio of 3.01 and a beta of 0.23.

Insider Transactions at Fortis

In other Fortis news, Senior Officer Jocelyn Perry sold 11,809 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total transaction of C$746,178.83. 0.04% of the stock is currently owned by insiders.

About Fortis

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.