Fortis Inc. (TSE:FTS - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$64.08 and traded as high as C$64.85. Fortis shares last traded at C$64.53, with a volume of 727,373 shares.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. UBS Group upped their target price on shares of Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. TD Securities set a C$74.00 target price on Fortis and gave the company a "buy" rating in a report on Friday, June 27th. Jefferies Financial Group increased their target price on Fortis from C$67.00 to C$70.00 in a report on Monday, April 14th. CIBC increased their target price on Fortis from C$68.00 to C$69.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada increased their target price on Fortis from C$69.00 to C$72.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of C$65.14.
Check Out Our Latest Research Report on Fortis
Fortis Stock Performance
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 stock has a 50 day simple moving average of C$65.24 and a 200 day simple moving average of C$64.11. The company has a market capitalization of C$32.09 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 3.01 and a beta of 0.23.
Fortis Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Sunday, June 1st were given a $0.615 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.46 dividend on an annualized basis and a yield of 3.79%. Fortis's payout ratio is 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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