Fortis Inc. Declares Quarterly Dividend of $0.59 (TSE:FTS)

Fortis Inc. (TSE:FTSGet Free Report) announced a quarterly dividend on Thursday, May 16th, RTT News reports. Stockholders of record on Saturday, June 1st will be paid a dividend of 0.59 per share on Saturday, June 1st. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Thursday, May 16th.

Fortis Price Performance

FTS opened at C$55.65 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.60 and a debt-to-equity ratio of 128.89. The company’s 50-day moving average price is C$53.57 and its 200 day moving average price is C$54.22. Fortis has a fifty-two week low of C$49.82 and a fifty-two week high of C$61.78. The firm has a market cap of C$27.44 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Fortis from C$58.00 to C$58.50 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Bank of America raised their target price on shares of Fortis from C$49.00 to C$50.00 in a report on Tuesday, January 16th. National Bankshares increased their price objective on Fortis from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 30th. Wells Fargo & Company lifted their target price on Fortis from C$56.00 to C$59.00 in a report on Wednesday, May 8th. Finally, Raymond James cut their target price on Fortis from C$62.00 to C$59.00 in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$57.04.

Check Out Our Latest Analysis on FTS

Insider Buying and Selling

In related news, Senior Officer Ronald Hinsley sold 972 shares of Fortis stock in a transaction dated Monday, February 26th. The stock was sold at an average price of C$38.79, for a total transaction of C$37,706.21. In other news, Director Margarita Dilley acquired 960 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of C$38.57 per share, with a total value of C$37,027.20. Also, Senior Officer Ronald Hinsley sold 972 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of C$38.79, for a total value of C$37,706.21. In the last 90 days, insiders acquired 2,851 shares of company stock valued at $111,115. Insiders own 0.04% of the company’s stock.

Fortis Company Profile

(Get Free Report)

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 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.

See Also

Dividend History for Fortis (TSE:FTS)

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