Fortis Inc. (TSE:FTS - Get Free Report) Senior Officer Keri Linda Glitch acquired 450 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average price of C$61.41 per share, with a total value of C$27,634.59. Following the acquisition, the insider now owns 450 shares of the company's stock, valued at approximately C$27,634.59.
Fortis Stock Performance
Shares of FTS stock opened at C$61.73 on Wednesday. Fortis Inc. has a 52 week low of C$51.02 and a 52 week high of C$62.47. The firm has a market cap of C$30.57 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 128.59, a quick ratio of 0.36 and a current ratio of 0.69. The firm's 50-day simple moving average is C$60.74 and its two-hundred day simple moving average is C$57.28.
Fortis Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.83 per share. The ex-dividend date is Monday, November 18th. This represents a $3.32 annualized dividend and a yield of 5.38%. This is a positive change from Fortis's previous quarterly dividend of $0.59. Fortis's payout ratio is 77.12%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Raymond James downgraded shares of Fortis from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on Fortis from C$52.00 to C$53.00 in a report on Thursday, July 25th. National Bankshares upped their price target on Fortis from C$56.00 to C$62.00 and gave the stock a "sector perform" rating in a research report on Friday, August 23rd. CIBC increased their price objective on Fortis from C$57.00 to C$59.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Finally, Scotiabank boosted their price target on Fortis from C$56.00 to C$63.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$60.33.
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About Fortis
(
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.
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