Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Fortis (FTS) Stock Price

News coverage about Fortis (NYSE:FTS) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Fortis earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned media coverage about the utilities provider an impact score of 46.3189391507136 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

FTS has been the topic of several recent analyst reports. Scotiabank reaffirmed a “buy” rating and issued a $51.00 price target on shares of Fortis in a report on Monday, December 4th. Zacks Investment Research lowered Fortis from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.33.

Fortis (NYSE FTS) traded down $0.16 during midday trading on Friday, reaching $36.04. The company’s stock had a trading volume of 159,559 shares, compared to its average volume of 188,686. Fortis has a 1-year low of $30.33 and a 1-year high of $38.24. The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 1.31. The stock has a market cap of $15,190.00, a PE ratio of 17.93, a P/E/G ratio of 3.32 and a beta of 0.43.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.3353 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Wednesday, February 14th. Fortis’s payout ratio is 66.67%.

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About Fortis

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.

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