Fortis Inc. (TSE:FTS) Announces Quarterly Dividend of $0.64

Fortis Inc. (TSE:FTS) declared a quarterly dividend on Monday, November 17th, TickerTech Dividends reports. Shareholders of record on Monday, December 1st will be paid a dividend of 0.64 per share on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, November 17th. This is a 4.1% increase from Fortis’s previous quarterly dividend of $0.62.

Fortis Price Performance

Shares of FTS stock traded down C$0.11 during trading hours on Friday, hitting C$73.33. The company had a trading volume of 3,625,198 shares, compared to its average volume of 1,575,451. Fortis has a 12 month low of C$57.98 and a 12 month high of C$74.00. 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’s fifty day moving average is C$70.44 and its 200 day moving average is C$68.02. The firm has a market capitalization of C$36.78 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 3.01 and a beta of 0.29.

Fortis (TSE:FTS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.81 EPS for the quarter. Fortis had a return on equity of 7.48% and a net margin of 14.53%.The business had revenue of C$2.94 billion for the quarter. On average, sell-side analysts predict that Fortis will post 3.3419913 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Scotiabank boosted their target price on shares of Fortis from C$70.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Monday, October 6th. Royal Bank Of Canada boosted their price target on shares of Fortis from C$72.00 to C$79.00 in a research report on Wednesday, November 5th. Jefferies Financial Group upped their price objective on shares of Fortis from C$70.00 to C$72.00 in a research note on Monday, September 15th. Desjardins lifted their target price on shares of Fortis from C$76.00 to C$79.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, BMO Capital Markets increased their price target on Fortis from C$72.00 to C$74.00 in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$73.65.

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.