Fortis Inc. (TSE:FTS - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$65.18 and traded as high as C$69.89. Fortis shares last traded at C$69.48, with a volume of 2,046,428 shares trading hands.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Scotiabank upped their target price on shares of Fortis from C$66.00 to C$70.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Raymond James Financial upped their target price on shares of Fortis from C$69.00 to C$72.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. TD Securities upped their target price on shares of Fortis from C$74.00 to C$77.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. National Bankshares upped their target price on shares of Fortis from C$65.00 to C$67.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada upped their target price on shares of Fortis from C$69.00 to C$72.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$68.82.
Read Our Latest Analysis 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 stock has a market capitalization of C$34.67 billion, a P/E ratio of 20.80, a PEG ratio of 3.01 and a beta of 0.23. The company's 50 day simple moving average is C$66.12 and its two-hundred day simple moving average is C$65.34.
Fortis Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Monday, September 1st will be given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, August 19th. 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.
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