Fortis Inc. stock trades under the ticker FTS & has recently shown bullish behavior that traders & investors should take a closer look into.
FTS stock closed at $47.67/share on 6/28/2022.
Fortis Inc. FTS Stock’s Technical Performance Broken Down
FTS Stock Price: $47.67
10 Day Moving Average: $45.84
50 Day Moving Average: $48.55
200 Day Moving Average: $46.24
RSI: 50.86
MACD: -0.767
Yesterday, FTS stock completed a bullish MACD crossover, on their sixth straight day of gains.
With a neutral RSI & recent trading volumes being above average for the year, there looks to be more bullish momentum in the near-term.
They will need to break above the $47.70 & $49.48 price levels as they continue climbing.
Fortis Inc. FTS Stock As A Long-Term Investment
Long-term oriented investors will like FTS stock’s valuation metrics, with a 23.74 P/E (ttm) & a 1.65 P/B (mrq).
They recently reported 11.7% Quarterly Revenue Growth Y-o-Y, with -1.3% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a more thorough review before investing, with $365M of Total Cash (mrq) & $26.25B of Total Debt (mrq).
FTS stock pays a 4.41% dividend yield, which may not be sustainable in the longer-run, with a 80.3% payout ratio.
54.55% of FTS stock’s outstanding share float is owned by institutional investors.
Fortis Inc. FTS Stock As A Short-Term Trade Using Options
Traders who are focused on the short-term can use options to profit from FTS stock’s price movements, while hedging against broader market volatility.
I am looking at the contracts with the 7/15 expiration date.
The $45 calls are in-the-money, with the only other strike prices with open interest being out-of-the-money ($50 & $55).
They currently have no in-the-money puts, as the only strikes with open interest are $40 & $45.
Tying It All Together
FTS stock has many interesting characteristics that traders & investors are sure to find appealing.
Investors will like their valuation metrics & dividend yield, but will want to review their balance sheet closer before making an investment.
Traders will like their recent momentum, but will be disappointed by how illiquid their options contracts are.
Overall, it is worth taking a closer look at FTS stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OF FTS STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***