Fortis (TSE:FTS) Insider Karen Gosse Sells 8,412 Shares

Fortis Inc. (TSE:FTS) insider Karen Gosse sold 8,412 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of C$78.18, for a total transaction of C$657,650.16. Following the completion of the sale, the insider owned 52,228 shares in the company, valued at C$4,083,185.04. This represents a 13.87% decrease in their position.

Fortis Stock Down 0.8%

Fortis stock traded down C$0.65 during trading on Tuesday, hitting C$77.59. 434,479 shares of the company were exchanged, compared to its average volume of 1,850,176. The company has a market capitalization of C$39.37 billion, a P/E ratio of 22.82, a PEG ratio of 3.01 and a beta of 0.35. The business’s 50 day moving average is C$72.80 and its 200 day moving average is C$71.30. Fortis Inc. has a 52 week low of C$61.32 and a 52 week high of C$78.47. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31.

Fortis (TSE:FTS) last posted its quarterly earnings data on Thursday, February 12th. The company reported C$0.90 EPS for the quarter. The firm had revenue of C$3.08 billion during the quarter. Fortis had a net margin of 14.53% and a return on equity of 7.48%. Analysts predict that Fortis Inc. will post 3.3419913 earnings per share for the current year.

Fortis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Sunday, March 1st will be given a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.56 annualized dividend and a dividend yield of 3.3%. Fortis’s payout ratio is 73.09%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FTS. Royal Bank Of Canada boosted their price target on shares of Fortis from C$79.00 to C$80.00 and gave the company a “sector perform” rating in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce raised their price target on Fortis from C$75.00 to C$76.00 in a report on Wednesday, December 17th. National Bank Financial boosted their price objective on Fortis from C$68.00 to C$72.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. TD Securities raised their target price on shares of Fortis from C$77.00 to C$79.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, BMO Capital Markets boosted their price target on shares of Fortis from C$74.00 to C$77.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fortis currently has an average rating of “Moderate Buy” and an average price target of C$75.65.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.