Fortis Inc. (TSE:FTS - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$62.56 and traded as high as C$67.66. Fortis shares last traded at C$67.08, with a volume of 2,021,016 shares traded.
Analyst Ratings Changes
FTS has been the subject of several recent research reports. UBS Group lifted their price target on Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Jefferies Financial Group lifted their target price on Fortis from C$67.00 to C$70.00 in a report on Monday, April 14th. Scotiabank increased their price target on shares of Fortis from C$63.00 to C$66.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada raised their price objective on shares of Fortis from C$65.00 to C$69.00 in a research report on Tuesday, February 18th. Finally, Raymond James decreased their target price on shares of Fortis from C$69.00 to C$62.50 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$63.14.
Get Our Latest Research Report on Fortis
Fortis Price Performance
The company has a market capitalization of C$33.19 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. 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's 50-day moving average is C$65.06 and its 200-day moving average is C$62.56.
Fortis Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Sunday, June 1st will be given a dividend of $0.615 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.46 annualized dividend and a dividend yield of 3.67%. Fortis's dividend payout ratio (DPR) is presently 73.02%.
Fortis Company Profile
(
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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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