Fortis Inc. (FTS) To Go Ex-Dividend on November 17th

Fortis Inc. (TSE:FTS) announced a quarterly dividend on Monday, November 17th, TickerTech Dividends reports. Stockholders of record on Monday, December 1st will be paid a dividend of 0.64 per share on Monday, December 1st. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. This is a 4.1% increase from Fortis’s previous quarterly dividend of $0.62.

Fortis Stock Down 0.1%

TSE FTS traded down C$0.11 during trading on Friday, reaching C$73.33. The company’s stock had a trading volume of 3,625,198 shares, compared to its average volume of 1,575,451. 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 stock has a market capitalization of C$36.78 billion, a PE ratio of 21.82, a PEG ratio of 3.01 and a beta of 0.29. Fortis has a 1-year low of C$57.98 and a 1-year high of C$74.00. The business has a 50-day moving average price of C$70.44 and a 200-day moving average price of C$68.02.

Fortis (TSE:FTS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.81 EPS for the quarter. Fortis had a net margin of 14.53% and a return on equity of 7.48%. The company had revenue of C$2.94 billion for the quarter. On average, research analysts forecast that Fortis will post 3.3419913 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FTS. Jefferies Financial Group upped their price target on Fortis from C$70.00 to C$72.00 in a research note on Monday, September 15th. CIBC boosted their target price on Fortis from C$74.00 to C$75.00 in a report on Wednesday, November 5th. TD Securities upped their target price on Fortis from C$77.00 to C$79.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. BMO Capital Markets increased their price target on Fortis from C$72.00 to C$74.00 in a report on Wednesday, November 5th. Finally, Scotiabank boosted their price objective on shares of Fortis from C$70.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$73.65.

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.