The Globe and Mail reports in its Thursday, Dec. 22, edition that in the utility and power space Desjardins Securities recommends buying Fortis ($40.68), Northland Power ($23.10) and Algonquin Power & Utilities ($11.57) with forecasted total returns of 17 per cent, 23 per cent and 39 per cent, respectively. The Globe's David Leeder writes in the Eye On Equities column that for Fortis, Desjardins analysts suggest the company is well diversified in terms of, "types of assets, growth profile, and geographic and regulatory exposure." Desjardins analyst Maher Yaghi notes that the stock is trading at a price-to-earnings multiple of 15.6 times the 2018 earnings estimate, at the lower end of its five-year historical range of between 14.6 times and 20.6 times. The target price for Fortis is $46. Ending on a positive note, Algonquin Power has an impressive 39-per-cent expected total return. Among the reasons to own this stock are its 10-per-cent annual dividend growth rate combined with growth from the pending EDE acquisition, and its large pipeline of investment opportunities. The target price is $15.25.