Fortis Inc. (TSE:FTS - Get Free Report) declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Stockholders of record on Monday, September 1st will be paid a dividend of 0.615 per share on Monday, September 1st. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, August 19th.
Fortis Trading Up 1.5%
Shares of Fortis stock traded up C$0.99 during trading on Friday, reaching C$68.79. 2,011,986 shares of the stock were exchanged, compared to its average volume of 1,651,741. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31. The firm has a market cap of C$34.03 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. Fortis has a 1 year low of C$57.50 and a 1 year high of C$69.70. The stock's fifty day moving average is C$65.45 and its 200 day moving average is C$64.67.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on FTS shares. Raymond James Financial upgraded Fortis from a "market perform" rating to an "outperform" rating in a report on Tuesday, July 22nd. TD Securities set a C$74.00 price target on Fortis and gave the stock a "buy" rating in a research note on Friday, June 27th. Scotiabank boosted their price objective on shares of Fortis from C$66.00 to C$70.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Royal Bank Of Canada upped their price objective on shares of Fortis from C$69.00 to C$72.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Finally, Cibc World Mkts raised shares of Fortis from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Fortis currently has an average rating of "Hold" and a consensus price target of C$66.35.
Read Our Latest Research Report on FTS
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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