Key Points
- Fortis insider James Reid sold 25,000 shares for C$2.15 million at an average price of C$85.83, reducing his stake by 44.31% to 31,419 shares.
- Fortis raised its quarterly dividend from C$0.64 to C$0.665 per share, equivalent to C$2.66 annually and a 3.1% yield.
- Analysts’ consensus rating remains Hold, with a consensus price target of C$81.95; recent targets ranged from C$76 to C$90.
Fortis Inc. (TSE:FTS - Get Free Report) insider James Reid sold 25,000 shares of the firm's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of C$85.83, for a total transaction of C$2,145,750.00. Following the sale, the insider owned 31,419 shares of the company's stock, valued at approximately C$2,696,692.77. This represents a 44.31% decrease in their position.
Fortis Trading Down 1.0%
Shares of FTS opened at C$84.91 on Friday. The stock has a market cap of C$43.80 billion, a PE ratio of 24.12, a P/E/G ratio of 3.01 and a beta of 0.49. The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 146.51. The business's 50-day moving average price is C$77.61 and its 200-day moving average price is C$77.89. Fortis Inc. has a twelve month low of C$69.06 and a twelve month high of C$86.35.
Fortis (TSE:FTS - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported C$0.92 earnings per share for the quarter. The business had revenue of C$3.12 billion during the quarter. Fortis had a net margin of 15.04% and a return on equity of 7.57%. On average, equities analysts forecast that Fortis Inc. will post 3.34 EPS for the current fiscal year.
Fortis Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, December 1st will be given a dividend of $0.6650 per share. This represents a $2.66 annualized dividend and a yield of 3.1%. This is a boost from Fortis's previous quarterly dividend of $0.64. The ex-dividend date is Tuesday, November 17th. Fortis's dividend payout ratio (DPR) is currently 72.73%.
Analyst Upgrades and Downgrades
FTS has been the subject of a number of recent analyst reports. Barclays decreased their target price on Fortis from C$82.00 to C$76.00 and set an "overweight" rating for the company in a research report on Wednesday, September 30th. National Bank Financial increased their price target on Fortis from C$83.00 to C$84.00 and gave the stock a "sector perform" rating in a report on Wednesday. Desjardins upped their price objective on shares of Fortis from C$85.00 to C$90.00 and gave the company a "buy" rating in a research note on Wednesday. TD upped their target price on shares of Fortis from C$87.00 to C$90.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, BMO Capital Markets raised their price target on shares of Fortis from C$81.00 to C$85.00 and gave the stock a "market perform" rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$81.95.
Get Our Latest Stock Analysis on FTS
About Fortis
(
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Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation's 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.
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