Fortis Inc (TSE:FTS) declared a quarterly dividend on Tuesday, September 27th. Investors of record on Friday, November 18th will be given a dividend of 0.40 per share on Thursday, December 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.78%. This is a boost from Fortis’s previous quarterly dividend of $0.38.
Fortis (TSE:FTS) opened at 42.30 on Wednesday. Fortis has a 12-month low of $35.51 and a 12-month high of $44.87. The stock has a market cap of $12.03 billion and a price-to-earnings ratio of 21.53. The company’s 50 day moving average price is $42.11 and its 200-day moving average price is $41.53.
In other Fortis news, insider David Bennett sold 11,815 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of C$44.01, for a total value of C$519,978.15.
A number of analysts recently weighed in on the stock. Raymond James Financial Inc. restated an “outperform” rating and set a C$50.00 target price on shares of Fortis in a report on Thursday, September 22nd. Royal Bank Of Canada upped their price target on shares of Fortis from C$48.00 to C$52.00 and gave the company an “outperform” rating in a research report on Wednesday, August 3rd. TD Securities upped their price target on shares of Fortis from C$48.00 to C$49.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Scotiabank upped their price target on shares of Fortis from C$46.00 to C$48.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Finally, CSFB upped their price target on shares of Fortis from C$42.00 to C$46.00 in a research report on Monday, July 25th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$46.00.
Fortis Company Profile
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd.
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