Insider Selling: Fortis Inc. (TSE:FTS) Director Sells 21,716 Shares of Stock

Fortis Inc. (TSE:FTS - Get Free Report) Director Gary Joseph Smith sold 21,716 shares of Fortis stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$61.45, for a total value of C$1,334,543.75.

Fortis Stock Up 0.1 %

TSE FTS traded up C$0.08 during trading hours on Tuesday, reaching C$61.73. 3,293,248 shares of the company traded hands, compared to its average volume of 1,624,463. The stock has a market capitalization of C$30.57 billion, a PE ratio of 19.39, a PEG ratio of 3.01 and a beta of 0.23. The company has a current ratio of 0.69, a quick ratio of 0.36 and a debt-to-equity ratio of 128.59. The company has a 50 day moving average of C$60.74 and a two-hundred day moving average of C$57.28. Fortis Inc. has a 12 month low of C$51.02 and a 12 month high of C$62.47.

Fortis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.83 per share. This is an increase from Fortis's previous quarterly dividend of $0.59. The ex-dividend date is Monday, November 18th. This represents a $3.32 annualized dividend and a yield of 5.38%. Fortis's dividend payout ratio (DPR) is currently 77.12%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FTS. Scotiabank upped their price objective on Fortis from C$56.00 to C$63.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. CIBC upped their price target on shares of Fortis from C$57.00 to C$59.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Raymond James cut shares of Fortis from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th. Bank of America set a C$60.00 price target on shares of Fortis and gave the company an "underperform" rating in a research note on Friday, September 20th. Finally, UBS Group raised shares of Fortis to a "strong sell" rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, Fortis presently has an average rating of "Hold" and an average price target of C$60.33.

Fortis Company Profile

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.