11:47 AM EDT, 09/08/2025 (MT Newswires) -- Fortis ( FTS ) maintained its sector perform rating and $72 price target at RBC Capital Markets, according to a note published Friday.

RBC reiterated Fortis' ( FTS ) rating and price target after the company agreed to divest FortisTCI, its utility company in Turks and Caicos.

While the terms of the transaction were not disclosed, RBC expects the transaction to simplify Fortis' ( FTS ) stock investment thesis from previously having 10 regulated utility businesses in Canada, the United States and the Caribbean.

The sale would also highlight the company's proactiveness in optimally managing its portfolio, RBC said.

RBC expects the transaction along with Fortis' ( FTS ) issuance of $750 million fixed-to-fixed rate subordinated notes to improve the company's balance sheet.

Fortis ( FTS ) traded 1% lower at last look Monday to $67.50 on the TSX.

Price: 67.25, Change: -0.93, Percent Change: -1.36