Fortis Inc Announces — Dividend of $0.36 (NYSE:FTS)

Fortis Inc (NYSE:FTS) announced a — dividend on Wednesday, September 11th, Wall Street Journal reports. Stockholders of record on Tuesday, November 19th will be given a dividend of 0.3631 per share by the utilities provider on Sunday, December 1st. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 18th.

FTS stock opened at $40.61 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.46 and a current ratio of 0.56. Fortis has a one year low of $31.80 and a one year high of $42.80. The company has a fifty day moving average of $41.52 and a 200-day moving average of $40.07. The stock has a market capitalization of $17.61 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 3.59 and a beta of 0.14.

Fortis (NYSE:FTS) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Fortis had a net margin of 12.72% and a return on equity of 6.75%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the business earned $0.65 earnings per share. Equities analysts forecast that Fortis will post 1.97 earnings per share for the current fiscal year.

Several analysts recently commented on the stock. TheStreet cut shares of Fortis from a “b-” rating to a “c+” rating in a research note on Monday, November 11th. ValuEngine cut shares of Fortis from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. CIBC set a $57.00 price objective on shares of Fortis and gave the company a “hold” rating in a research note on Sunday, November 3rd. UBS Group reduced their price objective on shares of Fortis from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Bank of America raised their price objective on shares of Fortis from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.40.

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 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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Dividend History for Fortis (NYSE:FTS)

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