Fortis Inc. (TSE:FTS) announced a quarterly dividend on Friday, November 17th, TickerTech reports. Investors of record on Friday, December 1st will be paid a dividend of 0.425 per share on Friday, December 1st. This represents a $1.70 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Friday, November 17th. This is an increase from Fortis’s previous quarterly dividend of $0.40.
Fortis (TSE:FTS) opened at C$47.84 on Friday. Fortis has a 1 year low of C$39.58 and a 1 year high of C$48.46.
In other news, insider Earl Ludlow sold 35,056 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of C$46.45, for a total transaction of C$1,628,351.20. Also, Director Jamie Roberts sold 1,569 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of C$48.11, for a total value of C$75,484.59.
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Several research analysts have weighed in on FTS shares. Royal Bank Of Canada lowered their price target on Fortis from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research report on Monday, July 31st. J P Morgan Chase & Co lifted their target price on Fortis from C$47.00 to C$48.00 in a research note on Thursday, October 19th. BMO Capital Markets set a C$51.00 target price on Fortis in a research note on Friday, September 15th. Scotiabank restated an “outperform” rating and issued a C$50.00 price target on shares of Fortis in a research note on Monday, July 31st. Finally, National Bank Financial restated a “sector perform” rating and issued a C$49.00 price target (up from C$48.00) on shares of Fortis in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Fortis currently has an average rating of “Buy” and an average price target of C$48.89.
Fortis Company Profile
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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