Fortis Inc. (FTS) Declares $0.43 Quarterly Dividend
Fortis Inc. (TSE:FTS) announced a quarterly dividend on Thursday, December 7th, Zacks reports. Shareholders of record on Thursday, February 15th will be given a dividend of 0.425 per share on Thursday, March 1st. This represents a $1.70 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, February 14th.
Fortis (TSE FTS) traded up C$0.17 during mid-day trading on Friday, reaching C$47.44. The company’s stock had a trading volume of 461,260 shares, compared to its average volume of 823,721. Fortis has a 52 week low of C$40.18 and a 52 week high of C$48.73.
Several equities research analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Fortis from C$51.00 to C$53.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Scotiabank lifted their price objective on Fortis from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. J P Morgan Chase & Co lifted their target price on Fortis from C$48.00 to C$49.00 in a research report on Monday, November 13th. CIBC lifted their target price on Fortis from C$48.00 to C$49.00 in a research report on Tuesday, October 17th. Finally, National Bank Financial reiterated a “sector perform” rating and issued a C$49.00 target price (up previously from C$48.00) on shares of Fortis in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$49.00.
In related news, Director Jamie Roberts sold 1,569 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of C$48.11, for a total transaction of C$75,484.59. Also, insider Earl Ludlow sold 35,056 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of C$46.45, for a total value of C$1,628,351.20.
Fortis Company Profile
Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.
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