Fortis Inc. (FTS) Shares Bought by AMP Capital Investors Ltd
AMP Capital Investors Ltd grew its stake in Fortis Inc. (NYSE:FTS) by 2.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 179,175 shares of the utilities provider’s stock after acquiring an additional 4,461 shares during the period. AMP Capital Investors Ltd’s holdings in Fortis were worth $6,414,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in FTS. Duff & Phelps Investment Management Co. purchased a new stake in shares of Fortis in the 3rd quarter valued at approximately $39,636,000. FMR LLC raised its stake in shares of Fortis by 11.8% in the 2nd quarter. FMR LLC now owns 10,358,373 shares of the utilities provider’s stock valued at $364,077,000 after acquiring an additional 1,090,988 shares during the period. Franklin Resources Inc. raised its stake in shares of Fortis by 51.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,714,989 shares of the utilities provider’s stock valued at $95,467,000 after acquiring an additional 918,369 shares during the period. Montrusco Bolton Investments Inc. raised its stake in shares of Fortis by 74.3% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,654,795 shares of the utilities provider’s stock valued at $59,251,000 after acquiring an additional 705,657 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Fortis by 183.2% in the 2nd quarter. Principal Financial Group Inc. now owns 851,078 shares of the utilities provider’s stock valued at $29,917,000 after acquiring an additional 550,545 shares during the period. 50.91% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on FTS shares. Zacks Investment Research downgraded shares of Fortis from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. Scotiabank reissued a “buy” rating and issued a $51.00 price target on shares of Fortis in a research note on Monday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $42.33.
Shares of Fortis Inc. (NYSE:FTS) opened at $36.83 on Thursday. Fortis Inc. has a 52 week low of $30.06 and a 52 week high of $38.24. The firm has a market cap of $15,324.33, a P/E ratio of 18.73, a P/E/G ratio of 3.37 and a beta of -1.70. The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 1.31.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.3353 per share. This represents a $1.34 annualized dividend and a yield of 3.64%. The ex-dividend date is Wednesday, February 14th. Fortis’s payout ratio is currently 70.16%.
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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 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizonas Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.
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