Shares of Fortis Inc. (TSE:FTS - Get Free Report) have been given a consensus recommendation of "Reduce" by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$64.25.
A number of research firms have recently issued reports on FTS. Jefferies Financial Group upped their price target on Fortis from C$67.00 to C$70.00 in a research report on Monday, April 14th. Scotiabank upped their price target on 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. UBS Group boosted their price target on shares of Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. CIBC boosted their price target 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. Finally, Royal Bank of Canada lifted their price target 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.
Check Out Our Latest Stock Analysis on Fortis
Fortis Price Performance
Shares of TSE FTS traded up C$0.59 during midday trading on Monday, hitting C$66.49. The stock had a trading volume of 3,590,084 shares, compared to its average volume of 1,802,593. The company has a market capitalization of C$32.89 billion, a PE ratio of 19.74, a P/E/G ratio of 3.01 and a beta of 0.23. The stock has a 50 day simple moving average of C$65.68 and a 200-day simple moving average of C$63.01. Fortis has a 1 year low of C$52.19 and a 1 year high of C$69.24. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31.
Fortis Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Sunday, June 1st will be paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 3.70%. The ex-dividend date is Friday, May 16th. Fortis's payout ratio is currently 73.02%.
About Fortis
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Get Free ReportFortis 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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