Fortis (NYSE:FTS – Get Free Report) has been given a consensus rating of “Hold” by the eight research firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $66.3333.
Several research firms have commented on FTS. Scotiabank reaffirmed a “sector perform” rating on shares of Fortis in a research note on Tuesday, August 4th. TD Securities restated a “buy” rating on shares of Fortis in a report on Tuesday, August 4th. Wall Street Zen downgraded Fortis from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Canadian Imperial Bank of Commerce downgraded Fortis from an “outperform” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Wolfe Research set a $50.00 price target on Fortis in a research note on Tuesday, August 4th.
Read Our Latest Research Report on Fortis
Institutional Investors Weigh In On Fortis
Fortis Trading Up 0.1%
Shares of FTS stock opened at $54.69 on Monday. The company has a market capitalization of $27.94 billion, a price-to-earnings ratio of 22.14 and a beta of 0.43. The company has a current ratio of 0.56, a quick ratio of 0.47 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $56.97 and a 200 day moving average price of $56.63. Fortis has a twelve month low of $48.64 and a twelve month high of $59.40.
Fortis (NYSE:FTS – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.83 billion. Fortis had a net margin of 14.17% and a return on equity of 7.16%. During the same period in the previous year, the firm posted $0.76 earnings per share. Research analysts forecast that Fortis will post 2.56 earnings per share for the current fiscal year.
Fortis Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, August 19th. Fortis’s dividend payout ratio is presently 73.68%.
Fortis Company Profile
Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.
The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.
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