Fortis Inc. (TSE:FTS - Get Free Report) has been assigned an average rating of "Reduce" from the nine brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$60.33.
Several equities analysts have weighed in on FTS shares. BMO Capital Markets boosted their target price on shares of Fortis from C$59.00 to C$61.00 in a report on Thursday, September 5th. National Bankshares lifted their target price on Fortis from C$56.00 to C$62.00 and gave the company a "sector perform" rating in a research report on Friday, August 23rd. Royal Bank of Canada increased their price target on Fortis from C$62.00 to C$65.00 and gave the stock a "sector perform" rating in a report on Thursday, October 3rd. UBS Group upgraded shares of Fortis to a "strong sell" rating in a report on Tuesday, September 10th. Finally, Raymond James cut shares of Fortis from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th.
View Our Latest Analysis on Fortis
Fortis Price Performance
Shares of FTS stock traded up C$0.71 during trading hours on Friday, reaching C$60.01. The company had a trading volume of 3,424,683 shares, compared to its average volume of 1,654,317. Fortis has a 12-month low of C$51.02 and a 12-month high of C$63.75. The company has a debt-to-equity ratio of 128.59, a quick ratio of 0.36 and a current ratio of 0.69. The company has a market capitalization of C$29.72 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 3.01 and a beta of 0.23. The stock has a fifty day moving average of C$61.33 and a 200-day moving average of C$58.64.
Fortis Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st were given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 5.53%. The ex-dividend date was Monday, November 18th. This is a boost from Fortis's previous quarterly dividend of $0.59. Fortis's dividend payout ratio (DPR) is currently 77.12%.
Insiders Place Their Bets
In related news, Senior Officer Jocelyn Perry sold 11,809 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total value of C$746,178.83. Also, Director Gary Joseph Smith sold 21,716 shares of Fortis stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$61.45, for a total transaction of C$1,334,543.75. Insiders own 0.04% of the company's stock.
Fortis Company Profile
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Get Free ReportFortis 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.
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