Fortis Inc (FTS) to Issue Quarterly Dividend of C$0.40 on December 1st
Fortis Inc (TSE:FTS) announced a quarterly dividend on Tuesday, September 27th. Stockholders of record on Friday, November 18th will be given a dividend of 0.40 per share on Thursday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Wednesday, November 16th. This is a boost from Fortis’s previous quarterly dividend of $0.38.
Shares of Fortis (TSE:FTS) opened at 41.05 on Friday. The company has a market cap of $11.68 billion and a price-to-earnings ratio of 20.89. The stock has a 50 day moving average of $42.38 and a 200 day moving average of $42.07. Fortis has a 1-year low of $35.51 and a 1-year high of $44.87.
Several brokerages have commented on FTS. Royal Bank Of Canada raised their price objective on Fortis from C$49.00 to C$50.00 and gave the company a “buy” rating in a research report on Monday. TD Securities raised their price objective on Fortis from C$49.00 to C$50.00 and gave the company a “buy” rating in a research report on Monday. Scotiabank reissued an “outperform” rating and set a C$48.00 price objective on shares of Fortis in a research report on Thursday, October 20th. CSFB raised their price objective on Fortis from C$42.00 to C$46.00 in a research report on Monday, July 25th. Finally, CIBC raised their price objective on Fortis from C$44.00 to C$47.00 in a research report on Wednesday, September 28th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of C$46.89.
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd.
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