Fortis Inc. [FTS] moved up 1.27: Why It’s Important

Fortis Inc. [NYSE: FTS] jumped around 0.51 points on Friday, while shares priced at $40.52 at the close of the session, up 1.27%. The company report on November 18, 2022 that UniSource Seeks Updated Electric Rates in 2024 to Support Reliable Service.

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UniSource Energy Services is seeking updated electric rates that would take effect in early 2024, its first such request in seven years.

UniSource’s proposed rates would help cover the cost of investments made since 2014 to support a stronger, more secure energy grid. These investments include new substations, transmission and distribution system upgrades, and critical maintenance and improvements for generating resources. The new rates also would reflect higher fuel and energy prices UniSource has paid to help serve customers’ energy needs.

Fortis Inc. stock is now -16.06% down from its year-to-date (YTD) trading value. FTS Stock saw the intraday high of $40.57 and lowest of $39.84 per share. The company’s 52-week high price is 51.66, which means current price is +16.57% above from all time high which was touched on 04/08/22.

Compared to the average trading volume of 883.06K shares, FTS reached a trading volume of 286291 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $43.09 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.

Wells Fargo have made an estimate for Fortis Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 14, 2022. The new note on the price target was released on October 19, 2022, representing the official price target for Fortis Inc. stock.

The Average True Range (ATR) for Fortis Inc. is set at 0.69, with the Price to Sales ratio for FTS stock in the period of the last 12 months amounting to 2.51. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.61.

How has FTS stock performed recently?

Fortis Inc. [FTS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.77. With this latest performance, FTS shares gained by 0.47% in over the last four-week period, additionally sinking by -14.10% over the last 6 months – not to mention a drop of -14.59% 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 54.39, with the RSI for the last a single of trading hit 55.01, and the three-weeks RSI is set at 53.14 for Fortis Inc. [FTS]. The present Moving Average for the last 50 days of trading for this stock 39.42, while it was recorded at 40.13 for the last single week of trading, and 44.82 for the last 200 days.

Fortis Inc. [FTS]: Deeper insight into the 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 analysis for Fortis Inc. [FTS]

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%.

Insider trade positions for Fortis Inc. [FTS]

There are presently around $9,744 million, or 55.51% 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 $930.42 million in FTS stocks shares; and VANGUARD GROUP INC, currently with $724.21 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 123 institutional holders increased their position in Fortis Inc. [NYSE:FTS] by around 14,587,360 shares. Additionally, 144 investors decreased positions by around 14,531,466 shares, while 41 investors held positions by with 211,352,545 shares. The mentioned changes placed institutional holdings at 240,471,371 shares, according to the latest SEC report filing. FTS stock had 26 new institutional investments in for a total of 761,852 shares, while 41 institutional investors sold positions of 1,488,968 shares during the same period.


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