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    FTS   CA3495531079


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Fortis Inc. : Provides Update on Recovery Efforts From Hurricane Irma on Turks and Caicos

09/15/2017 | 01:20pm EDT

ST. JOHN'S, NEWFOUNLAND AND LABRADOR--(Marketwired - Sep 15, 2017) - ???Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS)(NYSE:FTS) provided an update today on the status of its response efforts in the Turks and Caicos Islands following the aftermath of Hurricane Irma which hit the Islands last week. FortisTCI provides electrical service to most of the country.

The Corporation's emergency response team was among the first to land in Providenciales on Sunday, September 10, departing Canada within 48 hours of the "All-Clear" being given by the Government of Turks and Caicos. Since arriving, teams have been assigned to several regions of Turks and Caicos including North and South Caicos, Grand Turk, and Providenciales to assist FortisTCI with restoration of power. Initial efforts were focused on energizing critical infrastructure such as water treatment plants, hospitals, airports and emergency response organizations, as well as ensuring the safety of roadways and thoroughfares.

Assessments conducted during the past week indicate that well over 1200 poles are destroyed. As a result, significant effort will be required to restore power. Fortis will maintain a team of approximately 60 additional employees on the ground until power is restored to all customers that can receive it.

Arrangements are being made to deliver additional line trucks, poles, wire and other equipment to the country. The extra utility vehicles are being shipped via barge and should begin to arrive in the next few days. As well, approximately another 60 power line contract personnel will be on the ground soon, and will complement the Fortis team to more quickly complete restoration throughout the Islands. This will bring total additional personnel to approximately 120.

"We remain committed to restoring power to the region in a safe and expeditious fashion. Our thoughts continue to be with our employees, their families, Governor Freeman, Premier Cartwright-Robinson and the people of Turks and Caicos," said Barry Perry, President and Chief Executive Officer, Fortis Inc. "The Islands are very resilient and will bounce back from this terrible storm," he concluded.

FortisTCI is working alongside emergency response officials and the Government of Turks and Caicos to ensure efforts are coordinated.

About Fortis

Fortis is a leader in the North American regulated electric and gas utility industry with total assets of approximately C$48 billion as of June 30, 2017. The Corporation's 8,000 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.

Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.

ę Marketwired 2017
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Analyst Recommendations on FORTIS INC.
More recommendations
Sales 2021 9 374 M 7 402 M 7 402 M
Net income 2021 1 285 M 1 015 M 1 015 M
Net Debt 2021 26 322 M 20 787 M 20 787 M
P/E ratio 2021 20,7x
Yield 2021 3,59%
Capitalization 26 904 M 21 193 M 21 246 M
EV / Sales 2021 5,68x
EV / Sales 2022 5,53x
Nbr of Employees 9 000
Free-Float 95,4%
Duration : Period :
Fortis Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends FORTIS INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 17
Last Close Price 57,09 CAD
Average target price 58,97 CAD
Spread / Average Target 3,29%
EPS Revisions
Managers and Directors
David G. Hutchens President, Chief Executive Officer & Director
Jocelyn H. Perry Chief Financial Officer & Executive Vice President
Douglas J. Haughey Non-Executive Chairman
James P. Laurito CTO & EVP-Business Development
Ronald J. Hinsley Chief Information Officer & Vice President
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