Fortis Inc. (FTS.TO) (TSE:FTS) announced a quarterly dividend on Wednesday, November 18th, RTT News reports. Investors of record on Tuesday, February 16th will be given a dividend of 0.505 per share on Monday, March 1st. This represents a $2.02 dividend on an annualized basis and a yield of 3.81%.
TSE FTS opened at C$53.03 on Friday. The business has a 50 day simple moving average of C$54.31 and a 200 day simple moving average of C$53.10. Fortis Inc. has a 52-week low of C$41.52 and a 52-week high of C$59.28. The company has a debt-to-equity ratio of 121.61, a quick ratio of 0.46 and a current ratio of 0.73. The stock has a market cap of $24.66 billion and a price-to-earnings ratio of 20.00.
A number of analysts recently issued reports on FTS shares. BMO Capital Markets increased their target price on Fortis Inc. (FTS.TO) from C$56.00 to C$59.00 in a research note on Friday, July 31st. CSFB reaffirmed a “neutral” rating on shares of Fortis Inc. (FTS.TO) in a research report on Friday, October 23rd. JPMorgan Chase & Co. upped their price target on Fortis Inc. (FTS.TO) from C$54.00 to C$57.00 in a research report on Friday, October 16th. Raymond James set a C$58.00 price target on Fortis Inc. (FTS.TO) and gave the stock an “outperform” rating in a research report on Monday, November 2nd. Finally, National Bank Financial upped their price target on Fortis Inc. (FTS.TO) from C$60.00 to C$61.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of C$60.50.
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 429,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,143 megawatts (MW), including 59 MW of solar capacity.
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