Fortis Inc. (TSE:FTS - Get Free Report) Director Pierre J. Blouin bought 190 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were bought at an average price of C$61.17 per share, for a total transaction of C$11,622.81. Following the completion of the acquisition, the director now owns 835 shares in the company, valued at approximately C$51,079.20.
Fortis Price Performance
Shares of FTS opened at C$60.86 on Friday. The firm has a market cap of C$30.14 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.80 and a beta of 0.23. The stock has a 50 day moving average of C$59.89 and a 200-day moving average of C$56.04. The company has a current ratio of 0.69, a quick ratio of 0.36 and a debt-to-equity ratio of 128.59. Fortis Inc. has a 52 week low of C$50.69 and a 52 week high of C$62.29.
Fortis (TSE:FTS - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported C$0.67 EPS for the quarter, topping the consensus estimate of C$0.65 by C$0.02. The company had revenue of C$2.67 billion during the quarter, compared to analyst estimates of C$2.71 billion. Fortis had a return on equity of 7.44% and a net margin of 14.35%. As a group, analysts forecast that Fortis Inc. will post 3.29329 EPS for the current year.
Fortis Increases Dividend
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The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be issued a $0.83 dividend. This is an increase from Fortis's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, November 18th. This represents a $3.32 annualized dividend and a dividend yield of 5.46%. Fortis's dividend payout ratio (DPR) is 77.12%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on FTS shares. JPMorgan Chase & Co. raised their target price on Fortis from C$52.00 to C$53.00 in a report on Thursday, July 25th. Bank of America set a C$60.00 price objective on Fortis and gave the company an "underperform" rating in a research note on Friday, September 20th. Raymond James raised their price objective on Fortis from C$59.00 to C$61.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their price objective on Fortis from C$62.00 to C$65.00 and gave the company a "sector perform" rating in a research note on Thursday. Finally, Scotiabank raised their price objective on Fortis from C$56.00 to C$63.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$60.40.
Get Our Latest Stock Analysis 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 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.
Further Reading
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