Fortis Inc. (NYSE:FTS) Shares Acquired by NBC Securities Inc.

NBC Securities Inc. grew its holdings in Fortis Inc. (NYSE:FTS) by 158,500.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,586 shares of the utilities provider’s stock after purchasing an additional 1,585 shares during the quarter. NBC Securities Inc.’s holdings in Fortis were worth $72,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FTS. Norges Bank purchased a new position in shares of Fortis during the fourth quarter valued at approximately $182,242,000. Geode Capital Management LLC lifted its stake in shares of Fortis by 77.1% during the fourth quarter. Geode Capital Management LLC now owns 4,257,486 shares of the utilities provider’s stock valued at $180,686,000 after buying an additional 1,853,082 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Fortis by 42.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 4,443,333 shares of the utilities provider’s stock valued at $184,878,000 after buying an additional 1,316,394 shares during the period. Toronto Dominion Bank lifted its stake in shares of Fortis by 10.9% during the fourth quarter. Toronto Dominion Bank now owns 6,218,116 shares of the utilities provider’s stock valued at $258,068,000 after buying an additional 612,395 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Fortis during the fourth quarter valued at approximately $22,869,000. 57.77% of the stock is currently owned by institutional investors and hedge funds.

Fortis Price Performance

Shares of FTS stock opened at $47.39 on Thursday. The firm has a market cap of $23.77 billion, a P/E ratio of 20.08, a P/E/G ratio of 3.94 and a beta of 0.49. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.63. Fortis Inc. has a 1-year low of $38.15 and a 1-year high of $50.06. The firm has a fifty day moving average of $47.66 and a two-hundred day moving average of $44.91.

Fortis (NYSE:FTS) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $3.42 billion. Fortis had a net margin of 14.12% and a return on equity of 7.09%. During the same period last year, the business earned $0.93 EPS. As a group, research analysts anticipate that Fortis Inc. will post 2.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on FTS. Desjardins began coverage on shares of Fortis in a research note on Tuesday, May 6th. They set a “hold” rating on the stock. Jefferies Financial Group began coverage on shares of Fortis in a research note on Thursday, February 13th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Fortis from $69.00 to $72.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.00.

Fortis Profile

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 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.