Unigestion Holding SA boosted its stake in Fortis Inc (NYSE:FTS) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 171,300 shares of the utilities provider’s stock after acquiring an additional 4,000 shares during the quarter. Unigestion Holding SA’s holdings in Fortis were worth $5,555,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in FTS. Community Financial Services Group LLC boosted its stake in Fortis by 2.1% during the 2nd quarter. Community Financial Services Group LLC now owns 89,355 shares of the utilities provider’s stock worth $2,849,000 after purchasing an additional 1,803 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Fortis by 15.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,456 shares of the utilities provider’s stock worth $533,000 after purchasing an additional 2,209 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Fortis by 0.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 778,232 shares of the utilities provider’s stock worth $24,810,000 after purchasing an additional 2,278 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Fortis by 38.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,016 shares of the utilities provider’s stock worth $319,000 after purchasing an additional 2,775 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in Fortis by 36.0% during the 2nd quarter. Eqis Capital Management Inc. now owns 14,809 shares of the utilities provider’s stock worth $472,000 after purchasing an additional 3,919 shares during the last quarter. 50.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FTS opened at $34.54 on Friday. Fortis Inc has a 52-week low of $30.88 and a 52-week high of $38.24. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.49 and a current ratio of 0.59. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 3.81 and a beta of -0.16.
Fortis (NYSE:FTS) last announced its earnings results on Friday, November 2nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. Fortis had a net margin of 11.72% and a return on equity of 6.80%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, analysts forecast that Fortis Inc will post 1.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.349 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 19th. This is a positive change from Fortis’s previous quarterly dividend of $0.32. Fortis’s payout ratio is currently 66.67%.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Fortis from a “sell” rating to a “hold” rating in a research note on Friday. Bank of America assumed coverage on shares of Fortis in a research note on Tuesday, October 9th. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $45.00.
TRADEMARK VIOLATION NOTICE: This story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/11/10/fortis-inc-fts-shares-bought-by-unigestion-holding-sa.html.
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 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.
Featured Article: Short Selling
Want to see what other hedge funds are holding FTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortis Inc (NYSE:FTS).
Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.