Fortis Inc. (TSE:FTS) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Fortis Inc. (TSE:FTS) have received a consensus rating of “Reduce” from the nine research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$63.14.

Several brokerages have weighed in on FTS. Raymond James lowered their target price on shares of Fortis from C$69.00 to C$62.50 and set a “market perform” rating for the company in a research note on Thursday, April 17th. UBS Group increased their target price on shares of Fortis from C$58.00 to C$63.00 in a research note on Friday, March 21st. Jefferies Financial Group raised their price objective on shares of Fortis from C$67.00 to C$70.00 in a research note on Monday, April 14th. Royal Bank of Canada raised their price objective on shares of Fortis from C$65.00 to C$69.00 in a research note on Tuesday, February 18th. Finally, Scotiabank raised their price objective on shares of Fortis from C$63.00 to C$66.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th.

Fortis Trading Down 0.2 %

Shares of FTS stock opened at C$67.18 on Thursday. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The firm has a market cap of C$33.23 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. The company has a 50-day moving average of C$64.66 and a two-hundred day moving average of C$62.35. Fortis has a 1-year low of C$52.19 and a 1-year high of C$67.68.

Fortis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 3.66%. Fortis’s dividend payout ratio is currently 73.02%.

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.