Somewhat Positive Press Coverage Somewhat Unlikely to Impact Fortis (FTS) Stock Price
News stories about Fortis (NYSE:FTS) have trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Fortis earned a daily sentiment score of 0.11 on Accern’s scale. Accern also gave media headlines about the utilities provider an impact score of 46.4813798005332 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
FTS has been the topic of several research reports. Zacks Investment Research downgraded shares of Fortis from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. Scotiabank restated a “buy” rating and set a $51.00 price objective on shares of Fortis in a report on Monday, December 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $42.33.
Fortis (NYSE:FTS) traded up $0.08 during trading hours on Thursday, hitting $36.91. 149,280 shares of the stock traded hands, compared to its average volume of 187,111. Fortis has a one year low of $30.06 and a one year high of $38.24. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.43 and a current ratio of 0.52. The company has a market cap of $15,324.33, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 3.37 and a beta of -1.70.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.3353 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.34 annualized dividend and a dividend yield of 3.63%. Fortis’s payout ratio is 70.16%.
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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 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizonas Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.
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