Fortis Inc. (TSE:FTS - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$63.22 and traded as high as C$66.63. Fortis shares last traded at C$66.26, with a volume of 801,760 shares traded.
Analyst Ratings Changes
Several brokerages have recently weighed in on FTS. CIBC upped their target price on Fortis from C$68.00 to C$69.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. UBS Group upped their target price on Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Jefferies Financial Group upped their target price on Fortis from C$67.00 to C$70.00 in a research report on Monday, April 14th. Royal Bank of Canada increased their price target 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. Finally, Raymond James reduced their price target on Fortis from C$69.00 to C$62.50 and set a "market perform" rating for the company in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, Fortis currently has a consensus rating of "Hold" and a consensus target price of C$64.25.
Get Our Latest Report on Fortis
Fortis Price Performance
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 business has a fifty day moving average of C$66.04 and a 200 day moving average of C$63.35. The stock has a market cap of C$33.02 billion, a PE ratio of 19.81, a P/E/G ratio of 3.01 and a beta of 0.23.
Fortis Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Friday, May 16th. Fortis's dividend payout ratio is presently 73.02%.
About Fortis
(
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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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