Jocelyn Perry Sells 11,809 Shares of Fortis Inc. (TSE:FTS) Stock

Fortis Inc. (TSE:FTS) Senior Officer Jocelyn Perry sold 11,809 shares of Fortis stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$63.19, for a total transaction of C$746,178.83.

Fortis Trading Down 0.0 %

Shares of FTS traded down C$0.02 during mid-day trading on Thursday, reaching C$62.86. The stock had a trading volume of 38,031 shares, compared to its average volume of 1,646,913. The company has a debt-to-equity ratio of 128.59, a current ratio of 0.69 and a quick ratio of 0.36. Fortis Inc. has a 52-week low of C$51.02 and a 52-week high of C$63.40. The business’s fifty day moving average is C$61.27 and its 200 day moving average is C$58.01. The firm has a market cap of C$31.13 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 3.01 and a beta of 0.23.

Fortis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Sunday, December 1st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.28%. This is a positive change from Fortis’s previous quarterly dividend of $0.59. Fortis’s dividend payout ratio is currently 77.12%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FTS. Raymond James lowered shares of Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. CIBC upped their target price on shares of Fortis from C$57.00 to C$59.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. National Bankshares upped their target price on shares of Fortis from C$56.00 to C$62.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. BMO Capital Markets upped their target price on shares of Fortis from C$59.00 to C$61.00 in a report on Thursday, September 5th. Finally, Scotiabank upped their target price on shares of Fortis from C$56.00 to C$63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.