Fortis $FTS Shares Acquired by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC lifted its stake in shares of Fortis (NYSE:FTS) by 443.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,631 shares of the utilities provider’s stock after purchasing an additional 45,403 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Fortis were worth $2,823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in shares of Fortis in the 1st quarter worth $311,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Fortis by 19.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 565,150 shares of the utilities provider’s stock worth $25,760,000 after purchasing an additional 90,776 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new stake in Fortis in the second quarter valued at about $8,934,000. Canoe Financial LP acquired a new stake in Fortis in the second quarter valued at about $376,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Fortis by 8.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 18,953 shares of the utilities provider’s stock valued at $903,000 after purchasing an additional 1,517 shares in the last quarter. 57.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FTS shares. BMO Capital Markets reissued a “market perform” rating on shares of Fortis in a research note on Wednesday, November 5th. National Bankshares reaffirmed a “sector perform” rating on shares of Fortis in a report on Wednesday, November 5th. Scotiabank reiterated a “sector perform” rating on shares of Fortis in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Fortis in a research report on Wednesday, October 8th. Finally, CIBC reiterated an “outperform” rating on shares of Fortis in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Fortis Price Performance

Shares of NYSE FTS opened at $51.95 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average price is $51.66 and its 200 day moving average price is $50.35. Fortis has a 52 week low of $41.24 and a 52 week high of $52.83. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 4.70 and a beta of 0.50.

Fortis (NYSE:FTS) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Fortis had a net margin of 14.18% and a return on equity of 7.05%. As a group, research analysts forecast that Fortis will post 2.35 earnings per share for the current fiscal year.

Fortis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, February 17th. Fortis’s dividend payout ratio is 75.83%.

Fortis Company Profile

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.