Fortis (FTS) Projected to Post Quarterly Earnings on Friday

Fortis (NYSE:FTS) is anticipated to post its quarterly earnings results before the market opens on Friday, February 14th. Analysts expect Fortis to post earnings of $0.57 per share and revenue of $2.34 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Fortis Stock Down 0.1 %

Shares of NYSE FTS opened at $43.89 on Thursday. The business has a 50-day simple moving average of $42.34 and a two-hundred day simple moving average of $43.48. Fortis has a 52 week low of $36.86 and a 52 week high of $46.06. The company has a market cap of $21.91 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.94 and a beta of 0.50. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 1.32.

Fortis Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be paid a dividend of $0.4382 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.75 annualized dividend and a yield of 3.99%. Fortis’s dividend payout ratio is currently 79.41%.

Analyst Upgrades and Downgrades

Separately, Raymond James cut shares of Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th.

About Fortis

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.