Fortis (TSE:FTS) Stock Crosses Above Two Hundred Day Moving Average of $54.92

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Fortis Inc (TSE:FTS) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $54.92 and traded as high as $58.74. Fortis shares last traded at $58.45, with a volume of 3,336,392 shares traded.

FTS has been the topic of several research analyst reports. Credit Suisse Group lifted their price objective on shares of Fortis from C$54.00 to C$58.00 in a report on Monday, January 20th. UBS Group increased their target price on shares of Fortis from C$59.00 to C$64.00 in a report on Friday, February 7th. CIBC increased their target price on shares of Fortis from C$58.00 to C$59.00 in a report on Friday, February 14th. Scotiabank raised their price target on shares of Fortis from C$57.00 to C$62.00 in a research report on Friday, February 7th. Finally, Wells Fargo & Co lifted their price target on shares of Fortis from C$59.00 to C$64.00 in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of C$59.50.

The firm has a market capitalization of $27.12 billion and a price-to-earnings ratio of 15.46. The company has a current ratio of 0.62, a quick ratio of 0.35 and a debt-to-equity ratio of 115.43. The business has a 50-day moving average price of C$56.80 and a two-hundred day moving average price of C$54.95.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Sunday, March 1st will be paid a dividend of $0.4775 per share. This is an increase from Fortis’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Friday, February 14th. Fortis’s dividend payout ratio is presently 48.35%.

Fortis Company Profile (TSE:FTS)

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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