Fortis (TSE:FTS) Given New C$70.00 Price Target at Jefferies Financial Group

Fortis (TSE:FTS) had its price target boosted by research analysts at Jefferies Financial Group from C$67.00 to C$70.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective points to a potential upside of 6.50% from the company’s previous close.

Other research analysts also recently issued reports about the company. Royal Bank of Canada raised their price target on Fortis from C$65.00 to C$69.00 in a research note on Tuesday, February 18th. Scotiabank boosted their target price on shares of Fortis from C$63.00 to C$66.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. CIBC increased their price target on shares of Fortis from C$65.00 to C$68.00 in a research note on Friday, April 4th. Raymond James boosted their price objective on shares of Fortis from C$61.00 to C$62.50 in a research note on Tuesday, February 18th. Finally, UBS Group raised their target price on shares of Fortis from C$58.00 to C$63.00 in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$63.05.

Fortis Stock Up 1.7 %

Shares of Fortis stock traded up C$1.09 during trading hours on Monday, reaching C$65.73. 263,015 shares of the company’s stock were exchanged, compared to its average volume of 1,754,558. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. The company has a 50 day moving average of C$63.76 and a two-hundred day moving average of C$61.92. The stock has a market cap of C$32.52 billion, a P/E ratio of 19.51, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a fifty-two week low of C$51.02 and a fifty-two week high of C$67.52.

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.