Fortis Inc (TSE:FTS) Declares $0.45 Quarterly Dividend

Fortis Inc (TSE:FTS) announced a quarterly dividend on Monday, August 19th, TickerTech reports. Stockholders of record on Sunday, September 1st will be paid a dividend of 0.45 per share on Sunday, September 1st. This represents a $1.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, August 19th.

Shares of TSE FTS opened at C$54.43 on Friday. Fortis has a 12 month low of C$40.71 and a 12 month high of C$54.64. The company has a market cap of $23.76 billion and a price-to-earnings ratio of 14.89. The company has a quick ratio of 0.40, a current ratio of 0.62 and a debt-to-equity ratio of 125.01. The business has a fifty day simple moving average of C$52.44 and a 200-day simple moving average of C$50.24.

Several brokerages have recently commented on FTS. CSFB upped their target price on Fortis from C$50.00 to C$54.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Raymond James reaffirmed a “market perform” rating and issued a C$55.00 target price on shares of Fortis in a research report on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on Fortis from C$50.00 to C$52.00 in a research report on Monday, July 15th. National Bank Financial upped their target price on Fortis from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 6th. Finally, CIBC upped their target price on Fortis from C$52.00 to C$55.00 in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Fortis has a consensus rating of “Hold” and an average price target of C$53.70.

Fortis Company Profile

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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