Fortis Inc. (FTS) Declares $0.34 Quarterly Dividend
Fortis Inc. (NYSE:FTS) announced a quarterly dividend on Friday, December 8th, Wall Street Journal reports. Investors of record on Thursday, February 15th will be given a dividend of 0.3353 per share by the utilities provider on Thursday, March 1st. This represents a $1.34 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Wednesday, February 14th.
Shares of Fortis (FTS) opened at $32.20 on Friday. The firm has a market cap of $13,755.41, a price-to-earnings ratio of 16.82, a P/E/G ratio of 2.93 and a beta of -1.44. Fortis has a fifty-two week low of $31.27 and a fifty-two week high of $38.24. The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 1.31.
FTS has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Fortis from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. National Bank Financial lowered shares of Fortis from a “sector perform” rating to an “underperform” rating in a report on Monday, January 29th. Finally, Scotiabank reaffirmed a “buy” rating and set a $51.00 price target on shares of Fortis in a report on Monday, December 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.33.
Fortis Company Profile
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 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizonas Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.
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