Fortis Inc (TSE:FTS) has earned an average rating of “Hold” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$55.78.
A number of research firms have issued reports on FTS. Wells Fargo & Co increased their target price on shares of Fortis from C$57.00 to C$59.00 in a research report on Tuesday, September 3rd. National Bank Financial set a C$54.00 target price on shares of Fortis and gave the stock a “sector perform” rating in a research report on Wednesday. Royal Bank of Canada increased their target price on shares of Fortis from C$56.00 to C$59.00 in a research report on Wednesday, August 21st. TD Securities cut their target price on shares of Fortis from C$55.00 to C$54.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, CSFB set a C$54.00 target price on shares of Fortis and gave the stock a “neutral” rating in a research report on Tuesday, November 26th.
FTS stock traded up C$0.21 during midday trading on Wednesday, reaching C$52.52. The company had a trading volume of 1,407,184 shares, compared to its average volume of 1,166,484. Fortis has a 1 year low of C$43.49 and a 1 year high of C$56.94. The company has a current ratio of 0.56, a quick ratio of 0.34 and a debt-to-equity ratio of 126.57. The company has a market capitalization of $22.68 billion and a P/E ratio of 14.45. The company has a 50 day moving average of C$53.47 and a two-hundred day moving average of C$53.39.
The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Tuesday, November 19th were given a $0.477 dividend. This is an increase from Fortis’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.91 dividend on an annualized basis and a yield of 3.63%. Fortis’s dividend payout ratio is presently 49.52%.
Fortis Company Profile
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.
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