Fortis (TSE:FTS) Stock Passes Above 200-Day Moving Average – Time to Sell?

Fortis Inc. (TSE:FTS) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$74.83 and traded as high as C$78.42. Fortis shares last traded at C$78.42, with a volume of 402,750 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on FTS. TD upped their price target on Fortis from C$83.00 to C$84.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Scotiabank upped their price target on Fortis from C$79.00 to C$80.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Desjardins upped their price target on Fortis from C$79.00 to C$81.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Jefferies Financial Group lowered their price target on Fortis from C$72.00 to C$70.00 in a report on Wednesday, January 28th. Finally, Barclays lowered their price target on Fortis from C$84.00 to C$83.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Fortis presently has a consensus rating of “Moderate Buy” and a consensus target price of C$78.68.

Fortis Trading Up 0.6%

The business has a fifty day simple moving average of C$77.62 and a 200 day simple moving average of C$74.83. The stock has a market cap of C$39.93 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.01 and a beta of 0.47. The company has a debt-to-equity ratio of 145.23, a quick ratio of 0.36 and a current ratio of 0.49.

Fortis (TSE:FTS) last announced its earnings results on Wednesday, May 6th. The company reported C$0.99 EPS for the quarter. The firm had revenue of C$3.40 billion for the quarter. Fortis had a return on equity of 7.51% and a net margin of 14.75%. As a group, equities analysts anticipate that Fortis Inc. will post 3.3419913 EPS for the current year.

Fortis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, May 15th. Fortis’s dividend payout ratio is 74.04%.

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. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.