Headlines about Fortis (NYSE:FTS) have trended somewhat positive this week, Accern reports. The research firm scores the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fortis earned a news impact score of 0.12 on Accern’s scale. Accern also assigned news coverage about the utilities provider an impact score of 44.5749725789729 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
- UBS Group Upgrades Fortis (FTS) to “Outperform” (americanbankingnews.com)
- Fortis (FTS) Rating Increased to Outperform at Raymond James Financial (americanbankingnews.com)
- Fortis (FTS) Scheduled to Post Quarterly Earnings on Thursday (americanbankingnews.com)
- Does Fortis Inc. Belong in Your Portfolio? (ca.finance.yahoo.com)
A number of research analysts have weighed in on the stock. Raymond James Financial raised shares of Fortis from a “market perform” rating to an “outperform” rating in a report on Friday. UBS Group upgraded shares of Fortis from a “market perform” rating to an “outperform” rating in a report on Friday. National Bank Financial downgraded shares of Fortis from a “sector perform” rating to an “underperform” rating in a research note on Monday, January 29th. Zacks Investment Research downgraded shares of Fortis from a “buy” rating to a “sell” rating in a research note on Thursday, January 25th. Finally, Scotiabank reaffirmed a “buy” rating and set a $51.00 target price on shares of Fortis in a research note on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Fortis presently has a consensus rating of “Hold” and a consensus target price of $42.33.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.3353 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Wednesday, February 14th. Fortis’s dividend payout ratio (DPR) is presently 70.16%.
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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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