Fortis Inc. (TSE:FTS) Senior Officer Jocelyn Perry Sells 11,809 Shares of Stock

by · The Markets Daily

Fortis Inc. (TSE:FTS – Get Free Report) Senior Officer Jocelyn Perry sold 11,809 shares of Fortis stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total transaction of C$746,178.83.

Fortis Stock Performance

Shares of FTS opened at C$62.68 on Friday. The firm’s 50 day moving average is C$61.28 and its 200-day moving average is C$58.04. The stock has a market capitalization of C$31.04 billion, a P/E ratio of 19.65, a P/E/G ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 128.59, a current ratio of 0.69 and a quick ratio of 0.36. Fortis Inc. has a 12-month low of C$51.02 and a 12-month high of C$63.40.

Fortis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st will be paid a $0.83 dividend. The ex-dividend date is Monday, November 18th. This represents a $3.32 annualized dividend and a dividend yield of 5.30%. This is a boost from Fortis’s previous quarterly dividend of $0.59. Fortis’s payout ratio is currently 77.12%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group upgraded shares of Fortis to a “strong sell” rating in a research report on Tuesday, September 10th. Royal Bank of Canada lifted their price objective on shares of Fortis from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Thursday, October 3rd. CIBC lifted their price objective on shares of Fortis from C$57.00 to C$59.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. BMO Capital Markets lifted their price objective on shares of Fortis from C$59.00 to C$61.00 in a research report on Thursday, September 5th. Finally, Bank of America set a C$60.00 price target on shares of Fortis and gave the stock an “underperform” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$60.33.

Check Out Our Latest Stock Analysis on FTS

About Fortis

(Get Free Report)

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.

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