Fortis Inc. (TSE:FTS) Given Average Rating of "Reduce" by Brokerages

Fortis Inc. (TSE:FTS - Get Free Report) has been assigned an average rating of "Reduce" from the nine research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$63.05.

Several research firms have recently weighed in on FTS. Raymond James dropped their target price on shares of Fortis from C$69.00 to C$62.50 and set a "market perform" rating for the company in a research report on Thursday, April 17th. CIBC raised their target price on shares of Fortis from C$65.00 to C$68.00 in a report on Friday, April 4th. Scotiabank raised their price target on Fortis from C$63.00 to C$66.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada raised their target price on Fortis from C$65.00 to C$69.00 in a research note on Tuesday, February 18th. Finally, UBS Group lifted their price objective on shares of Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st.

Fortis Price Performance

FTS opened at C$67.06 on Thursday. The company has a fifty day simple moving average of C$64.39 and a 200 day simple moving average of C$62.23. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. The firm has a market cap of C$33.18 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 3.01 and a beta of 0.23. Fortis has a twelve month low of C$52.19 and a twelve month high of C$67.68.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 3.67%. Fortis's dividend payout ratio (DPR) is presently 73.02%.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.

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