Could Fortis Inc See a Reversal After This Very Weak Session?

 Could Fortis Inc See a Reversal After This Very Weak Session?

The stock of Fortis Inc (TSE:FTS) is a huge mover today! About 559,773 shares traded hands. Fortis Inc (TSE:FTS) has risen 9.61% since March 28, 2016 and is uptrending. It has outperformed by 6.59% the S&P500.
The move comes after 6 months negative chart setup for the $17.58B company. It was reported on Nov, 1 by We have $40.93 PT which if reached, will make TSE:FTS worth $1.05 billion less.

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 5.08% above today’s ($43.54) stock price. Fortis Incorporated has been the topic of 15 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Fortis Inc (TSE:FTS) earned “Sector Perform” rating by IBC on Wednesday, July 20. RBC Capital Markets maintained the shares of FTS in a report on Wednesday, October 7 with “Outperform” rating. Raymond James maintained the shares of FTS in a report on Thursday, September 22 with “Outperform” rating.

More notable recent Fortis Inc (TSE:FTS) news were published by: which released: “Fortis Lists On The NYSE – Can The Dividend Growth Continue?” on October 31, 2016, also with their article: “Fortis Inc. and GIC Acquisition of ITC Holdings Corp. Authorized by the …” published on September 26, 2016, published: “TransCanada Corporation vs Fortis Inc.: Which Is a Better Dividend Stock?” on October 17, 2016. More interesting news about Fortis Inc (TSE:FTS) were released by: and their article: “Kansas Corporation Commission Approves Fortis Inc. Acquisition of ITC Holdings …” published on October 11, 2016 as well as‘s news article titled: “Advisory: Fortis Inc. to Hold Teleconference on November 4 to Discuss Third …” with publication date: October 31, 2016.

Fortis Inc is a Canada-based electric and gas utility company. The company has a market cap of $17.58 billion. The Company’s divisions include Regulated Utilities and Non-Regulated Utilities. It has a 22.46 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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