Insider Selling: Fortis Inc. (TSE:FTS) Senior Officer Sells 11,809 Shares of Stock

Fortis Inc. (TSE:FTS) Senior Officer Jocelyn Perry sold 11,809 shares of Fortis stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total transaction of C$746,178.83.

Fortis Stock Down 0.3 %

Shares of Fortis stock opened at C$62.68 on Friday. The firm has a market cap of C$31.04 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 3.01 and a beta of 0.23. The stock has a 50-day simple moving average of C$61.28 and a 200-day simple moving average of C$58.04. Fortis Inc. has a 52-week low of C$51.02 and a 52-week high of C$63.40. The company has a debt-to-equity ratio of 128.59, a current ratio of 0.69 and a quick ratio of 0.36.

Fortis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st will be paid a $0.83 dividend. The ex-dividend date is Monday, November 18th. This is a boost from Fortis’s previous quarterly dividend of $0.59. This represents a $3.32 dividend on an annualized basis and a yield of 5.30%. Fortis’s payout ratio is 77.12%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FTS shares. National Bankshares lifted their target price on shares of Fortis from C$56.00 to C$62.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. BMO Capital Markets lifted their target price on shares of Fortis from C$59.00 to C$61.00 in a research report on Thursday, September 5th. Scotiabank lifted their target price on shares of Fortis from C$56.00 to C$63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. UBS Group raised shares of Fortis to a “strong sell” rating in a research report on Tuesday, September 10th. Finally, CIBC lifted their target price on shares of Fortis from C$57.00 to C$59.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$60.33.

Fortis Company Profile

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.