Fortis Inc. (TSE:FTS) Declares $0.59 Quarterly Dividend

Fortis Inc. (TSE:FTSGet Free Report) declared a quarterly dividend on Wednesday, December 6th, Zacks reports. Investors of record on Friday, February 16th will be paid a dividend of 0.59 per share on Friday, March 1st. This represents a $2.36 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Thursday, February 15th.

Fortis Stock Performance

TSE FTS opened at C$53.04 on Tuesday. The stock has a 50-day simple moving average of C$54.41 and a two-hundred day simple moving average of C$54.46. The firm has a market capitalization of C$26.02 billion, a P/E ratio of 17.11, a PEG ratio of 2.80 and a beta of 0.18. Fortis has a fifty-two week low of C$49.82 and a fifty-two week high of C$62.00. The company has a debt-to-equity ratio of 128.76, a quick ratio of 0.36 and a current ratio of 0.68.

Analyst Upgrades and Downgrades

FTS has been the topic of several analyst reports. Scotiabank increased their price objective on Fortis from C$57.00 to C$60.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 24th. TD Securities cut their price target on Fortis from C$63.00 to C$61.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. JPMorgan Chase & Co. dropped their price objective on Fortis from C$53.00 to C$50.00 and set an “underweight” rating on the stock in a report on Monday, January 22nd. CIBC raised their price objective on Fortis from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Bank of America raised their price objective on Fortis from C$49.00 to C$50.00 in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Fortis currently has a consensus rating of “Hold” and an average price target of C$57.54.

View Our Latest Report on FTS

Fortis Company Profile

(Get Free Report)

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 443,000 retail customers in southeastern Arizona; and 102,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,328 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.

Featured Articles

Dividend History for Fortis (TSE:FTS)

Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.