Fortis Inc. (TSE:FTS - Get Free Report)'s stock price hit a new 52-week high on Thursday . The stock traded as high as C$67.52 and last traded at C$66.74, with a volume of 399448 shares changing hands. The stock had previously closed at C$66.11.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on FTS. Royal Bank of Canada lifted their price target on Fortis from C$65.00 to C$69.00 in a research report on Tuesday, February 18th. Raymond James lifted their target price on shares of Fortis from C$61.00 to C$62.50 in a report on Tuesday, February 18th. CIBC boosted their price objective on shares of Fortis from C$65.00 to C$68.00 in a report on Friday. Jefferies Financial Group set a C$67.00 price target on Fortis and gave the stock a "hold" rating in a research note on Thursday, February 13th. Finally, Scotiabank boosted their price objective on shares of Fortis from C$63.00 to C$66.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$62.77.
Read Our Latest Report on Fortis
Fortis Stock Performance
The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. The company has a market capitalization of C$31.39 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.01 and a beta of 0.23. The business's fifty day simple moving average is C$63.64 and its 200-day simple moving average is C$61.88.
Fortis Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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 3.88%. Fortis's dividend payout ratio is 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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