Fortis Inc. [FTS] Stock trading around $39.81 per share: What’s Next?

Fortis Inc. [NYSE: FTS] surged by $0.09 during the normal trading session on Tuesday and reaching a high of $40.26 during the day while it closed the day at $39.81. The company report on October 28, 2022 that Fortis Inc. Releases Third Quarter 2022 Results and New Five-Year Capital Outlook.

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Fortis Inc. stock has also gained 1.66% of its value over the past 7 days. However, FTS stock has declined by -16.22% in the 3 months of the year. Over the past six months meanwhile, it has lost -19.17% and lost -17.53% year-on date.

The market cap for FTS stock reached $25.45 billion, with 479.40 million shares outstanding and 477.69 million shares in the current float. Compared to the average trading volume of 874.54K shares, FTS reached a trading volume of 4507040 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Fortis Inc. [FTS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTS shares is $43.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FTS stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Fortis Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 19, 2022. The new note on the price target was released on July 27, 2022, representing the official price target for Fortis Inc. stock.

The Average True Range (ATR) for Fortis Inc. is set at 0.91, with the Price to Sales ratio for FTS stock in the period of the last 12 months amounting to 2.43. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 0.62.

FTS stock trade performance evaluation

Fortis Inc. [FTS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.66. With this latest performance, FTS shares gained by 6.24% in over the last four-week period, additionally sinking by -19.17% over the last 6 months – not to mention a drop of -11.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTS stock in for the last two-week period is set at 55.14, with the RSI for the last a single of trading hit 58.99, and the three-weeks RSI is set at 51.25 for Fortis Inc. [FTS]. The present Moving Average for the last 50 days of trading for this stock 39.67, while it was recorded at 39.82 for the last single week of trading, and 45.65 for the last 200 days.

Fortis Inc. [FTS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fortis Inc. [FTS] shares currently have an operating margin of +26.13 and a Gross Margin at +26.13. Fortis Inc.’s Net Margin is presently recorded at +13.70.

Return on Equity for this stock inclined to 6.81, with Return on Assets sitting at 2.24.

Fortis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.

Earnings per share (EPS) analysis for Fortis Inc. [FTS] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FTS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fortis Inc. go to 5.30%.

Fortis Inc. [FTS]: Insider Ownership positions

There are presently around $9,573 million, or 54.90% of FTS stock, in the hands of institutional investors. The top three institutional holders of FTS stocks are: ROYAL BANK OF CANADA with ownership of 30,362,224, which is approximately -4.598% of the company’s market cap and around 0.07% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 22,961,993 shares of the stock with an approximate value of $914.12 million in FTS stocks shares; and VANGUARD GROUP INC, currently with $711.52 million in FTS stock with ownership of nearly 3.931% of the company’s market capitalization.

Positions in Fortis Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 125 institutional holders increased their position in Fortis Inc. [NYSE:FTS] by around 14,624,394 shares. Additionally, 143 investors decreased positions by around 14,531,434 shares, while 40 investors held positions by with 211,315,337 shares. The mentioned changes placed institutional holdings at 240,471,165 shares, according to the latest SEC report filing. FTS stock had 28 new institutional investments in for a total of 762,184 shares, while 40 institutional investors sold positions of 1,488,936 shares during the same period.


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