Fortis Inc. (TSE:FTS) Given Average Rating of "Hold" by Brokerages

Shares of Fortis Inc. (TSE:FTS - Get Free Report) have received an average rating of "Hold" from the nine ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$65.14.

FTS has been the topic of a number of recent research reports. CIBC raised their price objective on shares of Fortis from C$68.00 to C$69.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Raymond James Financial reduced their price objective on shares of Fortis from C$69.00 to C$62.50 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Royal Bank Of Canada raised their price objective on shares of Fortis from C$69.00 to C$72.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. UBS Group raised their price objective on shares of Fortis from C$58.00 to C$63.00 in a research note on Friday, March 21st. Finally, Scotiabank raised 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 note on Thursday, May 8th.

Fortis Trading Up 0.0%

Shares of FTS stock traded up C$0.01 on Tuesday, reaching C$64.09. 654,417 shares of the stock were exchanged, compared to its average volume of 1,697,621. The stock has a market cap of C$31.71 billion, a PE ratio of 19.02, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a one year low of C$53.65 and a one year high of C$69.24. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The stock has a 50 day moving average price of C$65.70 and a 200 day moving average price of C$63.93.

Fortis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Sunday, June 1st were issued a dividend of $0.615 per share. The ex-dividend date was Friday, May 16th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 3.84%. Fortis's payout ratio is 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.