Brokerages Set Fortis Inc. (TSE:FTS) PT at C$65.14

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

Several equities analysts recently weighed in on FTS shares. TD Securities set a C$74.00 price objective on shares of Fortis and gave the company a "buy" rating in a research report on Friday, June 27th. 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 report on Thursday, May 8th. Raymond James Financial cut 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 report on Thursday, April 17th. 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 report on Thursday, May 8th. Finally, 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 report on Thursday, April 24th.

Fortis Stock Up 0.7%

Shares of FTS stock traded up C$0.44 during trading on Tuesday, hitting C$64.53. 261,918 shares of the company were exchanged, compared to its average volume of 1,686,482. 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 firm has a market capitalization of C$31.92 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 3.01 and a beta of 0.23. The business's 50-day simple moving average is C$65.61 and its 200 day simple moving average is C$63.93. Fortis has a twelve month low of C$53.85 and a twelve month high of C$69.24.

Fortis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Sunday, June 1st were given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Friday, May 16th. Fortis's dividend payout ratio (DPR) is currently 73.02%.

Fortis Company Profile

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.