Fortis Inc. (TSE:FTS – Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$54.81 and traded as high as C$59.57. Fortis shares last traded at C$59.30, with a volume of 1,379,196 shares.
Analyst Ratings Changes
FTS has been the topic of several analyst reports. Raymond James boosted their price objective on shares of Fortis from C$59.00 to C$61.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Fortis from C$56.00 to C$59.00 in a research note on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Fortis from C$52.00 to C$53.00 in a research report on Thursday, July 25th. CIBC lifted their price objective on Fortis from C$57.00 to C$59.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada upped their target price on Fortis from C$61.00 to C$62.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$58.90.
Check Out Our Latest Stock Report on FTS
Fortis Trading Up 0.5 %
Fortis (TSE:FTS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.67 earnings per share for the quarter, topping the consensus estimate of C$0.65 by C$0.02. Fortis had a return on equity of 7.44% and a net margin of 14.35%. The company had revenue of C$2.67 billion during the quarter, compared to analyst estimates of C$2.71 billion. On average, equities research analysts anticipate that Fortis Inc. will post 3.2439825 earnings per share for the current year.
Fortis Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Sunday, September 1st were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.98%. The ex-dividend date was Tuesday, August 20th. Fortis’s payout ratio is 73.98%.
Insider Activity at Fortis
In related news, Senior Officer James Reid sold 19,972 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of C$59.46, for a total value of C$1,187,493.18. 0.04% of the stock is owned by corporate insiders.
About Fortis
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.
Featured Articles
- Five stocks we like better than Fortis
- Do ETFs Pay Dividends? What You Need to Know
- Autodesk Stock: Analysts’ Top AI Pick You Shouldn’t Overlook
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- Hidden Opportunities in Li Auto’s Tough Quarter You Can’t Miss
- Find and Profitably Trade Stocks at 52-Week Lows
- Don’t Overlook Campbell Soup: Here’s What Could Drive Its Stock
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.