Fortis (FTS) Expected to Announce Earnings on Friday

Fortis (NYSE:FTS - Get Free Report) will likely be releasing its earnings data before the market opens on Friday, February 14th. Analysts expect Fortis to post earnings of $0.57 per share and revenue of $2.34 billion for the quarter. Parties interested in participating in the company's conference call can do so using this link.

Fortis Price Performance

Shares of FTS traded up $0.23 during midday trading on Monday, reaching $43.75. The stock had a trading volume of 254,850 shares, compared to its average volume of 390,852. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.74 and a quick ratio of 0.63. The company has a market capitalization of $21.85 billion, a P/E ratio of 18.38, a P/E/G ratio of 3.94 and a beta of 0.50. The firm's 50 day moving average price is $42.37 and its 200-day moving average price is $43.44. Fortis has a 52 week low of $36.86 and a 52 week high of $46.06.

Fortis Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be issued a dividend of $0.4382 per share. This represents a $1.75 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Tuesday, February 18th. Fortis's payout ratio is currently 71.01%.

Analyst Ratings Changes

Separately, Raymond James lowered shares of Fortis from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th.

About Fortis

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.