Key Points
- Fortis director Lisa Durocher bought 140 shares on July 2 at C$81.69 each, for a total of C$11,436.60. Her direct holdings rose to 449 shares, a 45.31% increase.
- Fortis recently reported quarterly earnings of C$0.99 per share on revenue of C$3.40 billion, with net margin of 14.75% and return on equity of 7.51%. Analysts expect about 3.34 EPS for the full year.
- The company pays a quarterly dividend of C$0.64, or C$2.56 annually, for a dividend yield of 3.1%. Fortis also has a “Moderate Buy” analyst consensus and a target price of C$79.32.
Fortis Inc. (TSE:FTS - Get Free Report) Director Lisa Durocher acquired 140 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was acquired at an average cost of C$81.69 per share, with a total value of C$11,436.60. Following the transaction, the director directly owned 449 shares of the company's stock, valued at approximately C$36,678.81. This represents a 45.31% increase in their ownership of the stock.
Fortis Stock Performance
Shares of FTS stock opened at C$81.88 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 145.23. The company has a market cap of C$41.69 billion, a PE ratio of 24.15, a P/E/G ratio of 3.01 and a beta of 0.43. The company's fifty day simple moving average is C$78.28 and its 200-day simple moving average is C$76.26. Fortis Inc. has a 52 week low of C$63.54 and a 52 week high of C$82.67.
Fortis (TSE:FTS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$0.99 earnings per share for the quarter. Fortis had a net margin of 14.75% and a return on equity of 7.51%. The firm had revenue of C$3.40 billion during the quarter. As a group, equities research analysts anticipate that Fortis Inc. will post 3.3419913 EPS for the current year.
Fortis Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, June 1st were given a $0.64 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.56 annualized dividend and a dividend yield of 3.1%. Fortis's dividend payout ratio is presently 74.04%.
Analyst Upgrades and Downgrades
FTS has been the topic of several analyst reports. National Bank Financial raised their target price on Fortis from C$75.00 to C$82.00 and gave the company a "sector perform" rating in a report on Monday, June 1st. TD upped their price target on Fortis from C$83.00 to C$84.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Barclays decreased their price target on Fortis from C$84.00 to C$83.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Finally, Raymond James Financial lifted their price objective on shares of Fortis from C$78.50 to C$80.50 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Fortis has an average rating of "Moderate Buy" and a consensus target price of C$79.32.
Get Our Latest Stock Report on FTS
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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