Fortis (TSE:FTS) Share Price Passes Above 200-Day Moving Average of $51.96

Fortis Inc (TSE:FTS) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $51.96 and traded as high as $56.28. Fortis shares last traded at $55.95, with a volume of 355,476 shares traded.

A number of brokerages recently weighed in on FTS. BMO Capital Markets lowered shares of Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 11th. Raymond James restated a “market perform” rating and issued a C$55.00 price objective on shares of Fortis in a report on Thursday, September 12th. Wells Fargo & Co boosted their price objective on shares of Fortis from C$57.00 to C$59.00 in a report on Tuesday, September 3rd. CIBC boosted their price objective on shares of Fortis from C$55.00 to C$56.00 in a report on Wednesday, September 11th. Finally, CSFB boosted their price objective on shares of Fortis from C$50.00 to C$54.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of C$55.27.

The company has a current ratio of 0.62, a quick ratio of 0.40 and a debt-to-equity ratio of 125.01. The stock has a market capitalization of $24.49 billion and a PE ratio of 15.32. The firm has a 50 day moving average price of C$55.15 and a 200 day moving average price of C$51.96.

Fortis (TSE:FTS) last posted its quarterly earnings data on Friday, August 2nd. The company reported C$0.74 EPS for the quarter, topping the consensus estimate of C$0.58 by C$0.16. The company had revenue of C$2.44 billion during the quarter, compared to analysts’ expectations of C$2.01 billion. On average, equities research analysts expect that Fortis Inc will post 2.7797524 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Tuesday, November 19th will be paid a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 3.41%. This is a positive change from Fortis’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, November 18th. Fortis’s dividend payout ratio is 48.55%.

Fortis Company Profile (TSE:FTS)

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

Featured Article: Stochastic Momentum Index (SMI)

Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.