Fortis Inc Plans Quarterly Dividend of $0.45 (FTS)

Fortis Inc (TSE:FTS) declared a quarterly dividend on Thursday, February 14th, RTT News reports. Investors of record on Friday, May 17th will be given a dividend of 0.45 per share on Saturday, June 1st. This represents a $1.80 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, May 16th.

Shares of TSE:FTS opened at C$49.83 on Friday. The stock has a market cap of $21.47 billion and a price-to-earnings ratio of 19.53. The company has a quick ratio of 0.37, a current ratio of 0.70 and a debt-to-equity ratio of 133.75. Fortis has a 12 month low of C$40.21 and a 12 month high of C$50.47.

Fortis (TSE:FTS) last announced its quarterly earnings results on Friday, February 15th. The company reported C$0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.61 by C($0.05). The business had revenue of C$2.21 billion during the quarter, compared to the consensus estimate of C$1.97 billion. Research analysts predict that Fortis will post 2.7699998234174 EPS for the current fiscal year.

Several brokerages have commented on FTS. JPMorgan Chase & Co. upped their price target on Fortis from C$47.00 to C$50.00 in a research note on Monday, April 15th. BMO Capital Markets upped their price target on Fortis from C$49.00 to C$50.00 in a research note on Saturday, April 13th. Raymond James lowered Fortis from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada upped their price target on Fortis from C$53.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, CIBC upped their price target on Fortis from C$49.00 to C$52.00 in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$51.33.

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About Fortis

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 (TSE:FTS)

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