Fortis Inc. (TSE:FTS - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$63.62 and traded as high as C$64.95. Fortis shares last traded at C$64.62, with a volume of 2,147,682 shares traded.
Wall Street Analysts Forecast Growth
FTS has been the subject of several recent analyst reports. CIBC increased their price target on Fortis from C$68.00 to C$69.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Jefferies Financial Group increased their target price on shares of Fortis from C$67.00 to C$70.00 in a research report on Monday, April 14th. Raymond James Financial decreased their target price on shares of Fortis from C$69.00 to C$62.50 and set a "market perform" rating for the company in a research report on Thursday, April 17th. UBS Group increased their target price on shares of Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Finally, Scotiabank increased 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 report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Fortis currently has a consensus rating of "Hold" and a consensus price target of C$64.25.
Check Out Our Latest Analysis on FTS
Fortis Stock Performance
The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. The company's 50-day moving average price is C$66.27 and its two-hundred day moving average price is C$63.62. The company has a market cap of C$31.97 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23.
Fortis Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Sunday, June 1st were paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, May 16th. Fortis's dividend payout ratio 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.
See Also
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