Fortis Inc (TSE:FTS) had its price objective lifted by Royal Bank Of Canada from C$51.00 to C$53.00 in a research report released on Monday. They currently have an outperform rating on the stock.

Several other equities analysts have also issued reports on FTS. Barclays PLC boosted their price objective on Fortis from C$37.00 to C$40.00 and gave the company an overweight rating in a research report on Friday, July 21st. TD Securities boosted their price objective on Fortis from C$48.00 to C$51.00 and gave the company a buy rating in a research report on Monday, July 31st. Scotiabank reiterated an outperform rating and issued a C$50.00 price objective on shares of Fortis in a research report on Monday, July 31st. CIBC lowered Fortis from an outperform rating to a neutral rating and boosted their price objective for the company from C$47.00 to C$48.00 in a research report on Thursday, August 3rd. Finally, BMO Capital Markets set a C$51.00 price objective on Fortis in a research report on Friday, September 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Fortis presently has an average rating of Buy and a consensus price target of C$48.89.

Fortis (FTS) opened at C$48.13 on Monday. Fortis has a 12-month low of C$39.58 and a 12-month high of C$48.46.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, December 1st will be paid a $0.425 dividend. This is a boost from Fortis’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.70 annualized dividend and a yield of 3.53%. Fortis’s payout ratio is presently 63.25%.

In other Fortis news, insider Earl Ludlow sold 35,056 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of C$46.45, for a total value of C$1,628,351.20. Also, Director Jamie Roberts sold 1,569 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of C$48.11, for a total value of C$75,484.59.

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.

Analyst Recommendations for Fortis (TSE:FTS)

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