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

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

Fortis Price Performance

Shares of FTS stock opened at C$63.64 on Friday. Fortis has a 52-week low of C$51.02 and a 52-week high of C$64.39. 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 capitalization 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. The stock has a 50 day moving average price of C$60.72 and a 200 day moving average price of C$60.53.

Analysts Set New Price Targets

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

Insider Activity

In other news, 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 value of C$746,178.83. Company insiders own 0.04% of the company’s stock.

About Fortis

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.