Fortis (TSE:FTS) Reaches New 1-Year High at $58.60

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Fortis Inc (TSE:FTS) reached a new 52-week high on Thursday . The company traded as high as C$58.60 and last traded at C$58.50, with a volume of 1028388 shares. The stock had previously closed at C$57.75.

Several equities analysts recently issued reports on the company. Wells Fargo & Co increased their target price on Fortis from C$59.00 to C$64.00 in a research note on Friday. TD Securities increased their target price on Fortis from C$54.00 to C$61.00 and gave the stock a “hold” rating in a research note on Friday. CSFB increased their target price on Fortis from C$54.00 to C$58.00 in a research note on Monday, January 20th. Scotiabank increased their target price on Fortis from C$57.00 to C$62.00 in a research note on Friday, February 7th. Finally, Credit Suisse Group increased their target price on Fortis from C$54.00 to C$58.00 in a research note on Monday, January 20th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of C$59.50.

The company has a 50 day moving average of C$56.19 and a 200-day moving average of C$54.72. The company has a debt-to-equity ratio of 126.57, a quick ratio of 0.34 and a current ratio of 0.56. The stock has a market cap of $27.01 billion and a price-to-earnings ratio of 16.06.

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Sunday, March 1st will be paid a dividend of $0.4775 per share. This is a positive change from Fortis’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.91 annualized dividend and a yield of 3.27%. Fortis’s dividend payout ratio is presently 49.52%.

Fortis Company Profile (TSE:FTS)

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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