Fortis (TSE:FTS) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Fortis Inc. (TSE:FTS - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$61.31 and traded as high as C$64.97. Fortis shares last traded at C$64.68, with a volume of 905,051 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Scotiabank upped their target price on Fortis from C$63.00 to C$66.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Raymond James upped their price target on Fortis from C$61.00 to C$62.50 in a report on Tuesday, February 18th. Jefferies Financial Group set a C$67.00 price objective on shares of Fortis and gave the company a "hold" rating in a research note on Thursday, February 13th. UBS Group raised their price target on shares of Fortis from C$58.00 to C$63.00 in a report on Friday. Finally, CIBC boosted their price objective on shares of Fortis from C$64.00 to C$65.00 in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Fortis presently has an average rating of "Hold" and a consensus target price of C$62.50.

Fortis Trading Down 0.3 %

The firm has a market cap of C$31.92 billion, a price-to-earnings ratio of 19.15, 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$62.39 and its 200-day moving average price is C$61.42. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74.

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Fortis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 3.81%. Fortis's dividend payout ratio is presently 73.02%.

About Fortis

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.