Media stories about Fortis (NYSE:FTS) have trended somewhat positive on Friday, Accern Sentiment Analysis reports. The research firm rates the sentiment of press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Fortis earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned press coverage about the utilities provider an impact score of 46.0948778342236 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Fortis (NYSE FTS) traded down 0.46% during trading on Friday, hitting $36.45. 374,153 shares of the stock were exchanged. The stock has a market cap of $15.23 billion and a P/E ratio of 19.91. The stock has a 50 day moving average of $36.51 and a 200-day moving average of $34.11. Fortis has a 52 week low of $29.14 and a 52 week high of $37.67.
Fortis (NYSE:FTS) last released its earnings results on Friday, July 28th. The utilities provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Fortis had a net margin of 11.03% and a return on equity of 6.87%. Fortis’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. Equities analysts expect that Fortis will post $2.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 21st were paid a $0.3197 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This is a boost from Fortis’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 3.51%. Fortis’s dividend payout ratio (DPR) is 74.42%.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Fortis from a “strong sell” rating to a “hold” rating and set a $39.00 price objective for the company in a report on Monday, July 3rd. CIBC downgraded Fortis from an “outperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Fortis has a consensus rating of “Hold” and an average target price of $38.00.
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Fortis Company Profile
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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