Insider Selling: Fortis (TSE:FTS) Insider Sells 25,000 Shares of Company Stock

Key Points

• Fortis insider James Reid sold 25,000 shares for C$2.15 million, reducing his stake by 44.31% to 31,419 shares.
• Fortis raised its quarterly dividend from C$0.64 to C$0.665 per share, equivalent to C$2.66 annualized and a 3.1% yield.
• Analysts’ consensus rating is Hold, with an average price target of C$81.95; Fortis reported quarterly EPS of C$0.92 and revenue of C$3.12 billion.

Fortis Inc. (TSE:FTS - Get Free Report) insider James Reid sold 25,000 shares of Fortis stock in a transaction on Thursday, November 5th. The shares were sold at an average price of C$85.83, for a total transaction of C$2,145,750.00. Following the transaction, the insider owned 31,419 shares in the company, valued at approximately C$2,696,692.77. This trade represents a 44.31% decrease in their position.

Fortis Price Performance

Fortis stock traded down C$0.43 during mid-day trading on Friday, hitting C$85.36. The stock had a trading volume of 964,872 shares, compared to its average volume of 1,604,984. Fortis Inc. has a one year low of C$69.06 and a one year high of C$86.35. The company has a current ratio of 0.69, a quick ratio of 0.36 and a debt-to-equity ratio of 146.51. The firm has a market capitalization of C$44.03 billion, a P/E ratio of 24.25, a P/E/G ratio of 3.01 and a beta of 0.49. The firm's 50 day moving average is C$77.43 and its 200 day moving average is C$77.83.

Fortis (TSE:FTS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.92 EPS for the quarter. The business had revenue of C$3.12 billion for the quarter. Fortis had a return on equity of 7.57% and a net margin of 15.04%. On average, sell-side analysts forecast that Fortis Inc. will post 3.34 earnings per share for the current fiscal year.

Fortis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, December 1st will be paid a dividend of $0.6650 per share. This is a boost from Fortis's previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.66 annualized dividend and a yield of 3.1%. Fortis's dividend payout ratio is 72.73%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. National Bank Financial upped their price target on Fortis from C$83.00 to C$84.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Canadian Imperial Bank of Commerce reduced their price objective on shares of Fortis from C$82.00 to C$78.00 in a research report on Tuesday, September 22nd. Barclays lowered their target price on shares of Fortis from C$82.00 to C$76.00 and set an "overweight" rating on the stock in a report on Wednesday, September 30th. TD upped their target price on shares of Fortis from C$87.00 to C$90.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Raymond James Financial lowered shares of Fortis from a "moderate buy" rating to a "hold" rating and upped their target price for the stock from C$85.50 to C$86.50 in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of C$81.95.

About Fortis

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation's 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.

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