Fortis Inc. (TSE:FTS) Declares Quarterly Dividend of $0.62

Fortis Inc. (TSE:FTS) announced a quarterly dividend on Tuesday, February 18th,TickerTech Dividends reports. Investors of record on Saturday, March 1st will be given a dividend of 0.615 per share on Saturday, March 1st. This represents a $2.46 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Tuesday, February 18th.

Fortis Price Performance

Fortis stock opened at C$63.64 on Friday. The business’s fifty day moving average is C$60.72 and its two-hundred day moving average is C$60.53. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. The firm has a market cap of C$31.48 billion, a P/E ratio of 18.89, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a 52 week low of C$51.02 and a 52 week high of C$64.39.

Analysts Set New Price Targets

Several brokerages recently issued reports on FTS. CIBC upped their price target on shares of Fortis from C$63.00 to C$64.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Scotiabank upped their target price on shares of Fortis from C$63.00 to C$66.00 and gave the stock a “sector perform” rating in a research report on Thursday. Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group set a C$67.00 price objective on shares of Fortis and gave the stock a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, Fortis currently has a consensus rating of “Hold” and an average target price of C$61.80.

Insider Buying and Selling

In other news, Senior Officer Jocelyn Perry sold 11,809 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total value of C$746,178.83. 0.04% of the stock is currently owned by insiders.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.