J.P. Morgan Stick to Their Hold Rating for Fortis Inc
Investing.com
Published Dec 03, 2021 03:05PM ET
J.P. Morgan analyst Richard Sunderland maintained a Hold rating on Fortis (NYSE:FTS) Inc on Friday, setting a price target of C$58, which is approximately 3.29% above the present share price of $43.77.
Sunderland expects Fortis Inc to post earnings per share (EPS) of $0.63 for the fourth quarter of 2021.
The current consensus among 8 TipRanks analysts is for a Hold rating of shares in Fortis, with an average price target of $47.9.
The analysts price targets range from a high of $57 to a low of $44.43.
In its latest earnings report, released on 09/30/2021, the company reported a quarterly revenue of $2.2 billion and a net profit of $598 million. The company's market cap is $20.7 billion.
According to TipRanks.com, J.P. Morgan analyst Richard Sunderland is currently ranked with 1 stars on a 0-5 stars ranking scale, with an average return of -2.6% and a 40.00% success rate.
Fortis, Inc. is an international electric and gas utility holding company. It operates through the following business segments: Regulated Utilities and Non-Regulated. The Regulated Utilities segment comprises of ITC which contains mainly of the electric transmission operations of the ITC regulated operating subsidiaries; UNS Energy that offers vertically integrated utility services; Central Hudson (NYSE:HUD) which provides regulated electric and gas T&D utility services; FortisBC Energy that distributes natural gas in British Columbia; FortisAlberta which involves in the ownership and operation of regulated electricity distribution facilities; FortisBC Electric includes the ownership of hydroelectric generating plants, high voltage transmission lines, and a large network of distribution assets; and Other Electric that contains utilities in the eastern Canada and Caribbean. The Non-Regulated segment consists of energy Infrastructure which is primarily comprised of long-term contracted generation assets in British Columbia and Belize, and a gas storage facility in British Columbia; and Corporate & Other that includes expenses and revenue items not specifically related to business operations. The company was founded in 1885 and is headquartered in St. John's, Canada.
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Written By: Investing.com
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