BMO Capital analyst Benjamin Pham maintained a Buy rating on Fortis (NYSE:FTS) Inc on Thursday, setting a price target of $60, which is approximately 52.21% above the present share price of $39.42.
Pham expects Fortis Inc to post earnings per share (EPS) of $0.00 for the third quarter of 2020.
The current consensus among 4 TipRanks analysts is for a Strong Buy rating of shares in Fortis, with an average price target of $49.
The analysts price targets range from a high of $60 to a low of $43.58.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $2.08 billion and a net profit of $598 million. The company's market cap is $18.31 billion.
According to TipRanks.com, BMO Capital analyst Benjamin Pham is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 11.0% and a 77.94% 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.