Fortis Inc (FTS) Stock AnalysisFTSFortis Inc

Fortis Inc. is a Canada-based diversified regulated electric and gas utility holding company. Its regulated utilities include ITC, UNS Energy, Central Hudson, FortisBC Energy Inc., FortisAlberta Inc., FortisBC Inc. and Other electric. The ITC includes Investment Holdings Inc., ITC Holdings Corp. and the electric transmission operations of its regulated operating subsidiaries, which include International Transmission Company, Michigan Electric Transmission Company, LLC, ITC Midwest LLC and ITC Great Plains, LLC. UNS Energy includes UNS Energy Corporation, which primarily includes Tucson Electric Power Company, UNS Electric, Inc. and UNS Gas, Inc. The Central Hudson includes CH Energy Group, Inc., which primarily includes Central Hudson Gas & Electric Corporation. Other Electric include Eastern Canadian and Caribbean utilities, as follows: Newfoundland Power Inc., Maritime Electric Company, Limited, FortisOntario Inc., and others. It operates in the Utilities sector (ELECTRIC SERVICES industry).

Fortis Inc is currently priced at $53.31, which is close to the average analyst target of $56, suggesting limited upside potential. The RSI is at 56.87, indicating neutral momentum, while the forward P/E ratio is 19.46, suggesting the stock may be overvalued compared to its earnings growth potential. The main risk is the downgrade from Wolfe Research, which suggests a target of $50, indicating a potential downside of approximately 6.5%.

1 analysts cover FTS: 1 rate it Buy, 0 Hold and 0 Sell. The average price target is 53.87.