Fortis Inc. (TSE:FTS) Plans Quarterly Dividend of $0.62

Fortis Inc. (TSE:FTS) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Investors of record on Friday, May 16th will be paid a dividend of 0.615 per share on Sunday, June 1st. This represents a $2.46 dividend on an annualized basis and a yield of 3.91%.

Fortis Trading Up 0.3 %

Shares of FTS stock opened at C$62.89 on Friday. Fortis has a 1 year low of C$51.02 and a 1 year high of C$63.75. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. The firm’s fifty day simple moving average is C$60.71 and its 200 day simple moving average is C$60.46. The firm has a market capitalization of C$31.11 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23.

Insider Activity

In related news, Senior Officer Jocelyn Perry sold 11,809 shares of the company’s 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. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James downgraded shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. CIBC lifted their price target on shares of Fortis from C$63.00 to C$64.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Scotiabank lifted their price target on shares of Fortis from C$63.00 to C$66.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Jefferies Financial Group set a C$67.00 price target on shares of Fortis and gave the stock a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Fortis has an average rating of “Hold” and an average price target of C$61.80.

About Fortis

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.