Fortis Inc. (TSE:FTS - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$65.28 and last traded at C$64.82, with a volume of 1636806 shares traded. The stock had previously closed at C$64.03.
Analyst Ratings Changes
A number of research analysts recently weighed in on FTS shares. Royal Bank of Canada lifted their target price on shares of Fortis from C$65.00 to C$69.00 in a research note on Tuesday, February 18th. CIBC boosted their price objective on Fortis from C$64.00 to C$65.00 in a research report on Tuesday, February 18th. Raymond James upped their price objective on Fortis from C$61.00 to C$62.50 in a research note on Tuesday, February 18th. Jefferies Financial Group set a C$67.00 target price on Fortis and gave the company a "hold" rating in a research note on Thursday, February 13th. Finally, Scotiabank upped their price target on Fortis from C$63.00 to C$66.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat.com, Fortis presently has an average rating of "Hold" and an average target price of C$62.50.
View Our Latest Analysis on Fortis
Fortis Price Performance
The company has a market cap of C$32.67 billion, a P/E ratio of 19.60, a PEG ratio of 3.01 and a beta of 0.23. The firm's 50-day moving average is C$63.09 and its two-hundred day moving average is C$61.67. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36.
Fortis Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders 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 yield of 3.73%. Fortis's payout ratio is currently 73.02%.
About Fortis
(
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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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