Jocelyn Perry Sells 11,809 Shares of Fortis Inc. (TSE:FTS) Stock

Fortis Inc. (TSE:FTS) Senior Officer Jocelyn Perry sold 11,809 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of C$63.19, for a total value of C$746,178.83.

Fortis Price Performance

Shares of FTS stock traded down C$0.02 during trading hours on Thursday, hitting C$62.86. 38,031 shares of the company’s stock were exchanged, compared to its average volume of 1,646,913. The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 128.59. The firm has a market cap of C$31.13 billion, a P/E ratio of 19.71, a P/E/G ratio of 3.01 and a beta of 0.23. The firm has a 50 day moving average of C$61.27 and a two-hundred day moving average of C$58.01. Fortis Inc. has a fifty-two week low of C$51.02 and a fifty-two week high of C$63.40.

Fortis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 5.28%. This is an increase from Fortis’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, November 18th. Fortis’s dividend payout ratio is presently 77.12%.

Analysts Set New Price Targets

FTS has been the topic of a number of recent research reports. UBS Group upgraded Fortis to a “strong sell” rating in a research report on Tuesday, September 10th. BMO Capital Markets upped their price objective on Fortis from C$59.00 to C$61.00 in a research report on Thursday, September 5th. Royal Bank of Canada upped their price objective on Fortis from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 3rd. Bank of America set a C$60.00 price objective on Fortis and gave the stock an “underperform” rating in a research report on Friday, September 20th. Finally, Scotiabank upped their price objective on Fortis from C$56.00 to C$63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$60.33.

Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.