Fortis Inc Announces — Dividend of $0.36 (NYSE:FTS)

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Fortis Inc (NYSE:FTS) announced a — dividend on Wednesday, September 11th, Wall Street Journal reports. Investors of record on Tuesday, November 19th will be paid a dividend of 0.3631 per share by the utilities provider on Sunday, December 1st. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 18th.

Shares of FTS stock traded up $0.29 during trading on Thursday, reaching $42.12. 30,124 shares of the company’s stock traded hands, compared to its average volume of 370,175. The company has a market capitalization of $18.37 billion, a P/E ratio of 22.07, a PEG ratio of 3.82 and a beta of 0.15. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average is $40.75 and its 200 day moving average is $38.52. Fortis has a 1 year low of $31.37 and a 1 year high of $42.62.

Fortis (NYSE:FTS) last posted its earnings results on Friday, August 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Fortis had a net margin of 12.72% and a return on equity of 6.80%. During the same period in the prior year, the company posted $0.57 EPS. As a group, sell-side analysts predict that Fortis will post 1.96 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Fortis from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. ValuEngine lowered shares of Fortis from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. UBS Group set a $62.00 price target on shares of Fortis and gave the stock a “buy” rating in a report on Friday, September 6th. CIBC reaffirmed a “hold” rating and set a $56.00 target price on shares of Fortis in a research note on Wednesday. Finally, BMO Capital Markets cut shares of Fortis from an “outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $55.00.

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 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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Dividend History for Fortis (NYSE:FTS)

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