Hillsdale Investment Management Inc. Sells 1,840 Shares of Fortis Inc. (NYSE:FTS)

Hillsdale Investment Management Inc. lowered its stake in Fortis Inc. (NYSE:FTS) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,530 shares of the utilities provider’s stock after selling 1,840 shares during the period. Hillsdale Investment Management Inc.’s holdings in Fortis were worth $475,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FTS. Invesco Ltd. lifted its position in Fortis by 8.4% in the third quarter. Invesco Ltd. now owns 1,845,400 shares of the utilities provider’s stock valued at $70,107,000 after purchasing an additional 142,731 shares during the last quarter. Vanguard Group Inc. grew its holdings in Fortis by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 19,421,010 shares of the utilities provider’s stock worth $737,804,000 after acquiring an additional 353,112 shares during the last quarter. Canoe Financial LP raised its stake in shares of Fortis by 218.3% during the fourth quarter. Canoe Financial LP now owns 199,031 shares of the utilities provider’s stock valued at $8,186,000 after acquiring an additional 136,495 shares during the last quarter. QV Investors Inc. raised its stake in shares of Fortis by 18.1% during the fourth quarter. QV Investors Inc. now owns 1,016,319 shares of the utilities provider’s stock valued at $42,014,000 after acquiring an additional 155,821 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Fortis by 32.4% during the third quarter. Envestnet Asset Management Inc. now owns 158,635 shares of the utilities provider’s stock worth $6,027,000 after purchasing an additional 38,803 shares during the period. 57.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Fortis from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.13.

Fortis Price Performance

Shares of NYSE FTS opened at $40.92 on Wednesday. Fortis Inc. has a 1 year low of $36.30 and a 1 year high of $43.84. The stock has a market capitalization of $20.17 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.92 and a beta of 0.43. The company’s 50-day moving average is $39.45 and its 200 day moving average is $40.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.60 and a quick ratio of 0.52.

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.