Fortis Inc (FTS) Announces Quarterly Dividend of $0.43
Fortis Inc (TSE:FTS) announced a quarterly dividend on Thursday, December 7th, Zacks reports. Stockholders of record on Thursday, February 15th will be given a dividend of 0.425 per share on Thursday, March 1st. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Wednesday, February 14th.
Shares of Fortis (FTS) opened at C$41.21 on Tuesday. The stock has a market cap of $17,360.00, a P/E ratio of 16.55 and a beta of -0.06. Fortis has a 52-week low of C$40.57 and a 52-week high of C$48.73.
FTS has been the topic of a number of research reports. National Bank Financial downgraded Fortis from a “sector perform market weight” rating to an “underperform market weight” rating in a report on Sunday, January 28th. CIBC increased their price objective on Fortis from C$49.00 to C$50.00 in a report on Thursday, January 11th. Royal Bank of Canada increased their price objective on Fortis from C$51.00 to C$53.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. JPMorgan Chase & Co. increased their price objective on Fortis from C$47.00 to C$48.00 in a report on Thursday, October 19th. Finally, Scotiabank increased their price objective on Fortis from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of C$48.89.
Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.
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