Fortis Inc. (FTS): Utilities sector is losing shares

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Fortis Inc. (NYSE:FTS) changes shares on Monday trading session, with a change of -0.08% or -$0.03 shares. The trading starts at $38.20 and closed at $38.09 throughout the day. The trading session low price was $38.00 and day high was $38.66 on Monday, June 22. After the session, the Utilities sector daily volume shifted to 1.02 million while its average volume is 585.16K. In other hand, the FTS market cap reached to $17.67B. While, its current target price is $38.06 according to WSJ.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -1.07% and up 5.75% for month. Its quarterly performance was 30.88% above, while its half year performance is down -7.46%. FTS yearly performance stood at negative -4.85% and fall -8.33% for year-to-date. Current recommendation for Fortis Inc. is 1.00.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. FTS EPS (TTM) for 12-month is 1.73. EPS for this year is 24.50%, while for the next year its value is 2.61. Its EPS Q/Q reached 0.00%.

Let’s take a look on the analyst recommendations on FTS for the current month and previous month. For the current month, 9 of 15 analysts recommend stock as Buy while 0 as Sell, 1 as overweight, 1 as underweight and 4 as Hold. As compared with the previous month ratings, 15 analysts participate in stock recommendation. Out of 15, 0 rated it sell, 8 rated it as Buy and 5 as Hold Ratings. On the other hand, target price ranges from $37.47-$45.97. Average target price for FTS was reached at $41.81.

Royal Bank of Canada, Bank of Montreal/Can/ and FIL LTD are the top three holders in Fortis Inc. (FTS) stock. On Mar 30, 2020, Royal Bank of Canada has 36.35 million shares which valued 1.4 billion. On Mar 30, 2020, Bank of Montreal/Can/ owned 17.74 million shares which valued at 683.88 million. On Mar 30, 2020, FIL LTD has a total of 15.5 million shares which valued at 597.45 million. In the end, FIL LTD have 3.34% shares outstanding of Fortis Inc. (FTS) on Mar 30, 2020. The insider ownership moved to 0.56% and institutional holding shifted to 61.50%.

The company posted an EPS (TTM) of 1.73. According to the most recent quarter report on (Dec 2017), 1 analysts estimated an average EPS of 0.58. Analyst Estimated EPS for FTS published in the report was 0.58-0.58 during the same period.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for FTS fall -5.50% for period of 200 days. SMA for 50 days was -0.55% which is showing red signal, while SMA-20 was -1.45%. The moving average value for Fortis Inc. (FTS) is 39.81 and 38.13 for 200 and 50 days respectively.