Fortis Inc. (TSE:FTS) Senior Officer James Reid Buys 700 Shares

Fortis Inc. (TSE:FTS) Senior Officer James Reid purchased 700 shares of the stock in a transaction on Wednesday, June 19th. The shares were purchased at an average price of C$52.37 per share, for a total transaction of C$36,659.00.

Fortis Stock Performance

Shares of FTS opened at C$52.33 on Thursday. The company has a debt-to-equity ratio of 128.89, a current ratio of 0.60 and a quick ratio of 0.36. Fortis Inc. has a one year low of C$49.82 and a one year high of C$57.93. The company has a 50-day simple moving average of C$54.18 and a two-hundred day simple moving average of C$53.98. The firm has a market capitalization of C$25.80 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Fortis (TSE:FTS) last issued its quarterly earnings data on Wednesday, May 1st. The company reported C$0.93 EPS for the quarter, topping the consensus estimate of C$0.89 by C$0.04. Fortis had a net margin of 14.11% and a return on equity of 7.38%. The business had revenue of C$3.12 billion during the quarter, compared to analyst estimates of C$3.34 billion. On average, analysts anticipate that Fortis Inc. will post 3.2075145 EPS for the current fiscal year.

Fortis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Saturday, June 1st were issued a $0.59 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.36 annualized dividend and a yield of 4.51%. Fortis’s dividend payout ratio (DPR) is presently 75.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FTS. CIBC raised their price objective on Fortis from C$56.00 to C$57.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Scotiabank reduced their price objective on Fortis from C$60.00 to C$56.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company raised their price objective on Fortis from C$56.00 to C$59.00 in a research note on Wednesday, May 8th. Raymond James reduced their price objective on Fortis from C$62.00 to C$59.00 in a research note on Thursday, April 25th. Finally, BMO Capital Markets raised their price objective on Fortis from C$58.00 to C$58.50 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. One investment 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, the stock has a consensus rating of “Hold” and a consensus price target of C$57.38.

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.