Fortis Inc (FTS) Given Average Rating of “Hold” by Brokerages

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Shares of Fortis Inc (NYSE:FTS) have earned an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company.

A number of research firms have weighed in on FTS. UBS Group reiterated a “buy” rating on shares of Fortis in a research note on Saturday, February 2nd. Zacks Investment Research upgraded shares of Fortis from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. National Bank Financial reiterated a “hold” rating on shares of Fortis in a research note on Tuesday, January 29th. TD Securities cut shares of Fortis from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, ValuEngine lowered shares of Fortis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd.

FTS traded down $0.02 during midday trading on Tuesday, reaching $36.02. The company had a trading volume of 206,607 shares, compared to its average volume of 241,727. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 1.37. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.73 and a beta of 0.22. Fortis has a 12-month low of $30.88 and a 12-month high of $36.21.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a $0.342 dividend. This represents a $1.37 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, February 14th. Fortis’s dividend payout ratio (DPR) is currently 69.74%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cardinal Capital Management Inc. raised its position in shares of Fortis by 6.0% in the fourth quarter. Cardinal Capital Management Inc. now owns 11,975 shares of the utilities provider’s stock valued at $399,000 after purchasing an additional 675 shares during the period. Proficio Capital Partners LLC increased its holdings in Fortis by 312.9% during the 4th quarter. Proficio Capital Partners LLC now owns 1,214 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 920 shares during the period. Lindbrook Capital LLC bought a new stake in Fortis during the 4th quarter worth approximately $37,000. Financial Gravity Companies Inc. bought a new stake in Fortis during the 4th quarter worth approximately $43,000. Finally, BB&T Securities LLC increased its holdings in Fortis by 2.2% during the 4th quarter. BB&T Securities LLC now owns 58,231 shares of the utilities provider’s stock worth $1,942,000 after acquiring an additional 1,268 shares during the period. 49.31% of the stock is currently owned by institutional investors.

About Fortis

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 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.

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Analyst Recommendations for Fortis (NYSE:FTS)

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