What’s Propelling Fortis Inc to Increase So Much?

 What's Propelling Fortis Inc to Increase So Much?

The stock of Fortis Inc (TSE:FTS) is a huge mover today! About 601,161 shares traded hands. Fortis Inc (TSE:FTS) has risen 4.90% since March 10, 2016 and is uptrending. It has underperformed by 0.71% the S&P500.
The move comes after 9 months positive chart setup for the $12.30B company. It was reported on Oct, 17 by Barchart.com. We have $67.55 PT which if reached, will make TSE:FTS worth $7.38 billion more.

Fortis Inc (TSE:FTS) Ratings Coverage

Out of 8 analysts covering Fortis Incorporated (TSE:FTS), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. $50 is the highest target while $38 is the lowest. The $45.75 average target is 8.36% above today’s ($42.22) stock price. Fortis Incorporated has been the topic of 15 analyst reports since August 4, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of FTS in a report on Wednesday, October 7 with “Outperform” rating. The stock has “Sector Perform” rating given by IBC on Wednesday, July 20. The company was maintained on Thursday, September 22 by Raymond James.

More notable recent Fortis Inc (TSE:FTS) news were published by: Fool.ca which released: “Fortis Inc. Is Listing on the NYSE” on October 14, 2016, also Fool.ca with their article: “Dividend Seekers: Should You Buy Fortis Inc. or Enbridge Inc. Today?” published on October 13, 2016, Fool.ca published: “Fortis Inc. Is an Income Stock to Buy and Hold Forever” on October 10, 2016. More interesting news about Fortis Inc (TSE:FTS) were released by: Prnewswire.com and their article: “Kansas Corporation Commission Approves Fortis Inc. Acquisition of ITC Holdings …” published on October 11, 2016 as well as Prnewswire.com‘s news article titled: “Fortis Inc. and GIC Acquisition of ITC Holdings Corp. Authorized by the …” with publication date: September 26, 2016.

Fortis Inc is a Canada-based electric and gas utility company. The company has a market cap of $12.30 billion. The Company’s divisions include Regulated Utilities and Non-Regulated Utilities. It has a 21.78 P/E ratio. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc. (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc. (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd. (Caribbean Utilities), Fortis Turks and Caicos, and its investment in Belize Electricity Limited (Belize Electricity).

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