Fortis Inc. (TSE:FTS – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$57.17.
A number of research firms recently commented on FTS. CSFB lowered their price target on Fortis from C$62.00 to C$56.50 in a report on Tuesday, October 25th. JPMorgan Chase & Co. cut their price objective on Fortis from C$64.00 to C$54.00 in a research report on Thursday, October 20th. Wells Fargo & Company upgraded Fortis to an “equal weight” rating and set a C$59.00 target price for the company in a report on Wednesday, December 14th. National Bankshares lowered their target price on Fortis from C$60.00 to C$51.00 in a report on Tuesday, October 25th. Finally, Credit Suisse Group decreased their price objective on Fortis to C$56.50 in a research note on Tuesday, October 25th.
Fortis Stock Performance
Shares of Fortis stock opened at C$55.89 on Friday. Fortis has a 12 month low of C$48.45 and a 12 month high of C$65.26. The company has a current ratio of 0.62, a quick ratio of 0.36 and a debt-to-equity ratio of 126.67. The business has a fifty day simple moving average of C$54.60 and a two-hundred day simple moving average of C$56.05. The firm has a market capitalization of C$26.84 billion and a P/E ratio of 20.70.
Fortis Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 15th will be given a $0.565 dividend. This represents a $2.26 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, February 14th. Fortis’s dividend payout ratio (DPR) is presently 79.26%.
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 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 MV of wind capacity.
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