Fortis Inc. (TSE:FTS) Senior Officer Jocelyn Perry Sells 11,809 Shares

Fortis Inc. (TSE:FTS) Senior Officer Jocelyn Perry sold 11,809 shares of the 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.

Fortis Stock Performance

Shares of TSE FTS opened at C$62.59 on Friday. Fortis Inc. has a 52-week low of C$51.02 and a 52-week high of C$63.40. The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 128.59. The firm’s 50-day moving average price is C$61.30 and its 200-day moving average price is C$58.07. The company has a market cap of C$30.99 billion, a PE ratio of 19.62, a PEG ratio of 3.01 and a beta of 0.23.

Fortis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st will be paid a $0.83 dividend. This is an increase from Fortis’s previous quarterly dividend of $0.59. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Monday, November 18th. Fortis’s dividend payout ratio (DPR) is 77.12%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FTS shares. Scotiabank increased their price target on shares of Fortis from C$56.00 to C$63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. National Bankshares lifted their target price on shares of Fortis from C$56.00 to C$62.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. BMO Capital Markets upped their price target on Fortis from C$59.00 to C$61.00 in a research note on Thursday, September 5th. 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. Finally, UBS Group upgraded Fortis to a “strong sell” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$60.33.

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.