Fortis (FTS) To Go Ex-Dividend on February 17th

Fortis (NYSE:FTS) announced a quarterly dividend on Thursday, December 4th. Investors of record on Tuesday, February 17th will be paid a dividend of 0.64 per share by the utilities provider on Sunday, March 1st. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, February 17th.

Fortis has decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Fortis has a payout ratio of 72.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Fortis to earn $2.47 per share next year, which means the company should continue to be able to cover its $1.86 annual dividend with an expected future payout ratio of 75.3%.

Fortis Price Performance

Shares of NYSE:FTS opened at $56.82 on Friday. The firm’s 50 day moving average is $52.41 and its two-hundred day moving average is $51.22. The firm has a market capitalization of $28.83 billion, a P/E ratio of 23.29, a PEG ratio of 4.45 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 1.32. Fortis has a 52 week low of $42.95 and a 52 week high of $57.01.

Fortis (NYSE:FTS) last issued its quarterly earnings data on Thursday, February 12th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.54 billion. Fortis had a return on equity of 7.23% and a net margin of 14.24%.During the same period in the previous year, the firm posted $0.83 earnings per share. Analysts anticipate that Fortis will post 2.35 earnings per share for the current year.

About Fortis

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.