Fortis Inc. (TSE:FTS - Get Free Report) insider Karen Gosse sold 8,412 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of C$78.18, for a total value of C$657,650.16. Following the completion of the transaction, the insider directly owned 52,228 shares in the company, valued at approximately C$4,083,185.04. The trade was a 13.87% decrease in their position.
Fortis Price Performance
Shares of TSE FTS opened at C$77.85 on Wednesday. The stock has a fifty day moving average price of C$72.94 and a 200 day moving average price of C$71.36. Fortis Inc. has a 1-year low of C$61.32 and a 1-year high of C$78.47. The company has a debt-to-equity ratio of 142.31, a current ratio of 0.74 and a quick ratio of 0.36. The company has a market cap of C$39.50 billion, a PE ratio of 22.90, a P/E/G ratio of 3.01 and a beta of 0.35.
Fortis (TSE:FTS - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported C$0.90 earnings per share (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$3.08 billion for the quarter. Sell-side analysts forecast that Fortis Inc. will post 3.3419913 EPS for the current year.
Fortis Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Sunday, March 1st will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, February 17th. Fortis's dividend payout ratio is currently 73.09%.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. BMO Capital Markets boosted their target price on Fortis from C$74.00 to C$77.00 and gave the stock a "market perform" rating in a research report on Friday, February 13th. Royal Bank Of Canada upped their price objective on Fortis from C$79.00 to C$80.00 and gave the stock a "sector perform" rating in a report on Friday, February 13th. National Bank Financial raised their target price on Fortis from C$68.00 to C$72.00 and gave the company a "sector perform" rating in a report on Wednesday, December 17th. Canadian Imperial Bank of Commerce boosted their target price on shares of Fortis from C$75.00 to C$76.00 in a research report on Wednesday, December 17th. Finally, Scotiabank increased their price target on shares of Fortis from C$79.00 to C$80.00 and gave the company a "sector perform" rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$75.65.
Read Our Latest Stock Report on Fortis
Fortis Company Profile
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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. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.
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