Fortis Inc (FTS) To Go Ex-Dividend on February 14th

Fortis Inc (TSE:FTS) announced a quarterly dividend on Wednesday, November 28th, RTT News reports. Shareholders of record on Friday, February 15th will be given a dividend of 0.45 per share on Friday, March 1st. This represents a $1.80 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, February 14th.

TSE FTS opened at C$47.73 on Friday. Fortis has a fifty-two week low of C$39.38 and a fifty-two week high of C$47.94. The company has a debt-to-equity ratio of 130.09, a current ratio of 0.59 and a quick ratio of 0.33. The company has a market capitalization of $20.45 billion and a price-to-earnings ratio of 20.79.

In other news, insider Nora Duke sold 16,742 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of C$47.25, for a total value of C$791,059.50. Also, Director Julie Dobson bought 2,200 shares of the stock in a transaction dated Thursday, December 6th. The stock was purchased at an average price of C$33.02 per share, with a total value of C$72,644.00.

Several equities research analysts have weighed in on the company. TD Securities cut Fortis from a “buy” rating to a “hold” rating and set a C$48.00 price objective for the company. in a report on Tuesday, January 29th. National Bank Financial increased their price objective on Fortis from C$47.00 to C$48.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 29th. CIBC increased their price objective on Fortis from C$47.00 to C$49.00 in a report on Tuesday, January 15th. UBS Group increased their price objective on Fortis from C$49.00 to C$53.00 in a report on Thursday, November 29th. Finally, Raymond James reiterated an “outperform” rating and issued a C$50.00 price objective on shares of Fortis in a report on Monday, November 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$49.11.

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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 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.

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Dividend History for Fortis (TSE:FTS)

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