Fortis Inc. (TSE:FTS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$63.93 and traded as high as C$64.49. Fortis shares last traded at C$64.02, with a volume of 912,686 shares.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on Fortis from C$69.00 to C$72.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. CIBC upped their price objective 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. Raymond James Financial lowered their price objective on Fortis from C$69.00 to C$62.50 and set a "market perform" rating for the company in a research note on Thursday, April 17th. TD Securities set a C$74.00 price target on Fortis and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Jefferies Financial Group increased their price target on Fortis from C$67.00 to C$70.00 in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of C$65.14.
View Our Latest Stock Analysis on FTS
Fortis Stock Performance
The company has a market cap of C$31.59 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The stock has a 50-day moving average price of C$65.70 and a 200 day moving average price of C$63.93.
Fortis Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Sunday, June 1st were paid a $0.615 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.46 dividend on an annualized basis and a yield of 3.85%. Fortis's dividend 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.
Further Reading
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