Fortis - FTS Stock Forecast, Price & News

Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 MV of wind capacity. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,065,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 577,000 customers in southern and central Alberta; owns 4 hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 143 MW; and on Prince Edward Island with a generating capacity of 130 MW. Additionally, it provides integrated electric utility service to approximately 68,000 customers in Ontario; approximately 272,000 customers in Newfoundland and Labrador; approximately 32,000 customers on Grand Cayman, Cayman Islands; and approximately 16,000 customers on certain islands in Turks and Caicos. The company also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 90,200 circuit Kilometers (km) of distribution lines; and approximately 50,500 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FTS shares. Edward Jones lowered Fortis from a "buy" rating to a "hold" rating in a research report on Wednesday, July 27th. Scotiabank upped their price objective on Fortis from C$61.00 to C$63.00 in a report on Tuesday, April 19th. National Bank Financial upped their price objective on Fortis from C$59.00 to C$60.00 in a report on Friday, May 6th. Wells Fargo & Company lowered Fortis from an "equal weight" rating to an "underweight" rating in a report on Wednesday, June 1st. Finally, UBS Group lowered Fortis from a "neutral" rating to a "sell" rating and set a $56.00 price objective for the company. in a report on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Fortis has a consensus rating of "Hold" and an average price target of $60.10.

Fortis Trading Up 0.9 %

Shares of NYSE:FTS opened at $47.21 on Friday. Fortis has a 12 month low of $43.12 and a 12 month high of $51.66. The company has a market cap of $22.60 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 4.06 and a beta of 0.33. The company has a quick ratio of 0.53, a current ratio of 0.64 and a debt-to-equity ratio of 1.23. The business has a fifty day simple moving average of $46.85 and a 200-day simple moving average of $47.84.

Fortis Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 19th will be issued a dividend of $0.4149 per share. This represents a $1.66 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Thursday, August 18th. Fortis's dividend payout ratio is 80.29%.