Fortis Inc (NYSE:FTS) shares, rose in value on Friday, May 30, with the stock price up by 1.27% to the previous day’s close as strong demand from buyers drove the stock to $48.83.
Actively observing the price movement in the last trading, the stock closed the session at $48.22. The PE ratio was 20.58 over 12-month period. Referring to stock’s 52-week performance, its high was $50.06, and the low was $38.15. On the whole, FTS has fluctuated by -1.37% over the past month.
With the market capitalization of Fortis Inc currently standing at about $24.49 billion, investors are eagerly awaiting this quarter’s results, scheduled for in June. The company’s Forward Dividend Ratio is 1.74, with its dividend yield at 3.57%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 12.19B, with a low estimate of 2.11B and a high estimate of 3.06B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 2.66B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that FTS’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 3.91, with the price of FTS currently trading nearly 1.74% and 3.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.34, while the 7-day volatility ratio is showing 1.12% which for the 30-day chart, stands at 1.26%. Furthermore, Fortis Inc (FTS)’s beta value is 0.45, and its average true range (ATR) is 0.78.
A comparison of Fortis Inc (FTS) with its peers suggests the former has fared considerably weaker in the market. FTS showed an intraday change of 1.27% in last session, and over the past year, it grew by 24.31%%.
Data on historical trading for Fortis Inc (NYSE:FTS) indicates that the trading volumes over the past 3 months, they’ve averaged 618.88K. According to company’s latest data on outstanding shares, there are 501.60 million shares outstanding.
Nearly 0.12% of Fortis Inc’s shares belong to company insiders and institutional investors own 56.56% of the company’s shares. The stock has risen by 17.46% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the FTS stock heading into the next quarter.
