Shares of Fortis Inc. (TSE:FTS - Get Free Report) have been assigned a consensus rating of "Reduce" from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$62.45.
A number of equities research analysts have weighed in on FTS shares. Royal Bank of Canada lifted their target price on Fortis from C$65.00 to C$69.00 in a report on Tuesday, February 18th. Raymond James raised their price objective on Fortis from C$61.00 to C$62.50 in a research note on Tuesday, February 18th. CIBC raised their price objective on Fortis from C$64.00 to C$65.00 in a research note on Tuesday, February 18th. Scotiabank raised their price objective on Fortis from C$63.00 to C$66.00 and gave the company a "sector perform" rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group set a C$67.00 price objective on Fortis and gave the company a "hold" rating in a research note on Thursday, February 13th.
Get Our Latest Stock Analysis on FTS
Fortis Trading Up 2.7 %
FTS stock traded up C$1.70 during mid-day trading on Wednesday, reaching C$64.20. The company's stock had a trading volume of 1,687,987 shares, compared to its average volume of 1,856,814. The company has a market cap of C$31.76 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. The business's 50 day moving average price is C$61.55 and its 200 day moving average price is C$61.10. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. Fortis has a 12 month low of C$51.02 and a 12 month high of C$64.48.
Fortis Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be given a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 3.83%. Fortis's payout ratio is 73.02%.
About Fortis
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Get Free ReportFortis 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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