Keri Linda Glitch Acquires 450 Shares of Fortis Inc. (TSE:FTS) Stock

Fortis Inc. (TSE:FTS) Senior Officer Keri Linda Glitch bought 450 shares of Fortis stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of C$61.41 per share, for a total transaction of C$27,634.59. Following the purchase, the insider now directly owns 450 shares in the company, valued at approximately C$27,634.59.

Fortis Stock Performance

FTS stock traded up C$0.15 during trading hours on Tuesday, reaching C$61.80. The stock had a trading volume of 237,115 shares, compared to its average volume of 1,610,410. The company has a debt-to-equity ratio of 128.59, a current ratio of 0.69 and a quick ratio of 0.36. The stock has a 50-day simple moving average of C$60.74 and a 200 day simple moving average of C$57.28. The stock has a market capitalization of C$30.60 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. Fortis Inc. has a fifty-two week low of C$51.02 and a fifty-two week high of C$62.47.

Fortis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Sunday, December 1st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Fortis’s previous quarterly dividend of $0.59. Fortis’s dividend payout ratio is 77.12%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FTS. Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. UBS Group raised Fortis to a “strong sell” rating in a research note on Tuesday, September 10th. Royal Bank of Canada boosted their price objective on shares of Fortis from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. BMO Capital Markets increased their price target on Fortis from C$59.00 to C$61.00 in a report on Thursday, September 5th. Finally, Scotiabank boosted their price objective on Fortis from C$56.00 to C$63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, Fortis currently 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.