Versor Investments LP Grows Stock Position in Fortis Inc. (NYSE:FTS)

Versor Investments LP lifted its stake in shares of Fortis Inc. (NYSE:FTSFree Report) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,535 shares of the utilities provider’s stock after purchasing an additional 700 shares during the quarter. Versor Investments LP’s holdings in Fortis were worth $248,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Bank of Montreal Can purchased a new position in Fortis in the second quarter worth $1,134,029,000. Norges Bank acquired a new position in shares of Fortis during the 4th quarter worth $104,121,000. Bank of Nova Scotia raised its stake in shares of Fortis by 31.2% during the 2nd quarter. Bank of Nova Scotia now owns 6,692,276 shares of the utilities provider’s stock worth $288,404,000 after buying an additional 1,590,850 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Fortis by 68.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,607,805 shares of the utilities provider’s stock worth $155,425,000 after buying an additional 1,469,945 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Fortis by 25.1% during the 2nd quarter. Mackenzie Financial Corp now owns 7,320,924 shares of the utilities provider’s stock worth $315,459,000 after buying an additional 1,466,574 shares during the last quarter. Hedge funds and other institutional investors own 50.18% of the company’s stock.

Fortis Trading Down 0.4 %

Fortis stock opened at $40.14 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 1.25. The stock has a market cap of $19.69 billion, a PE ratio of 17.53, a P/E/G ratio of 3.08 and a beta of 0.45. The stock has a 50-day moving average price of $40.72 and a 200 day moving average price of $40.46. Fortis Inc. has a 52 week low of $36.30 and a 52 week high of $46.28.

Fortis Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Thursday, February 15th. Fortis’s dividend payout ratio (DPR) is 76.42%.

Wall Street Analysts Forecast Growth

FTS has been the subject of several research reports. StockNews.com downgraded Fortis from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. downgraded Fortis from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fortis currently has an average rating of “Hold” and a consensus price target of $55.30.

Read Our Latest Research Report on Fortis

Fortis Profile

(Free Report)

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 443,000 retail customers in southeastern Arizona; and 102,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,328 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.

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Institutional Ownership by Quarter for Fortis (NYSE:FTS)

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