The Senior Officer of Fortis (NYSE: FTS) is Buying Shares

Yesterday, the Senior Officer of Fortis (FTSResearch Report), James Reid, bought shares of FTS for $3,370.

Following James Reid’s last FTS Buy transaction on March 19, 2020, the stock climbed by 6.1%. Following this transaction James Reid’s holding in the company was increased by 1% to a total of $493.4K.

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The company has a one-year high of $44.72 and a one-year low of $28.59. Currently, Fortis has an average volume of 327.93K. FTS’s market cap is $18.6 billion and the company has a P/E ratio of 14.00.

Based on 9 analyst ratings, the analyst consensus is Strong Buy with an average price target of $48.56, reflecting a -17.2% downside. Starting in April 2020, FTS received 10 Buy ratings in a row. Seven different firms, including BMO Capital and Raymond James, currently also have a Buy rating on the stock.

The insider sentiment on Fortis has been positive according to 81 insider trades in the past three months. This sentiment is higher than the average sentiment of company insiders in this sector.

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Fortis, Inc. is an international electric and gas utility holding company. It operates through the following business segments: Regulated Utilities and Non-Regulated. The Regulated Utilities segment comprises of ITC which contains mainly of the electric transmission operations of the ITC regulated operating subsidiaries; UNS Energy that offers vertically integrated utility services; Central Hudson which provides regulated electric and gas T&D utility services; FortisBC Energy that distributes natural gas in British Columbia; FortisAlberta which involves in the ownership and operation of regulated electricity distribution facilities; FortisBC Electric includes the ownership of hydroelectric generating plants, high voltage transmission lines, and a large network of distribution assets; and Other Electric that contains utilities in the eastern Canada and Caribbean. The Non-Regulated segment consists of energy Infrastructure which is primarily comprised of long-term contracted generation assets in British Columbia and Belize, and a gas storage facility in British Columbia; and Corporate & Other that includes expenses and revenue items not specifically related to business operations. The company was founded in 1885 and is headquartered in St. John’s, Canada.