Fortis Inc. (NYSE:FTS) Shares Bought by DGS Capital Management LLC

DGS Capital Management LLC lifted its position in shares of Fortis Inc. (NYSE:FTS) by 52.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,560 shares of the utilities provider’s stock after buying an additional 10,491 shares during the period. DGS Capital Management LLC’s holdings in Fortis were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in shares of Fortis by 3.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 17,887 shares of the utilities provider’s stock valued at $744,000 after buying an additional 531 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its holdings in Fortis by 7.3% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 17,276 shares of the utilities provider’s stock worth $718,000 after buying an additional 1,182 shares in the last quarter. Addenda Capital Inc. grew its stake in shares of Fortis by 0.9% in the fourth quarter. Addenda Capital Inc. now owns 186,643 shares of the utilities provider’s stock worth $7,759,000 after acquiring an additional 1,747 shares in the last quarter. Hennessy Advisors Inc. increased its position in shares of Fortis by 3.1% during the fourth quarter. Hennessy Advisors Inc. now owns 121,776 shares of the utilities provider’s stock worth $5,062,000 after acquiring an additional 3,700 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Fortis by 847.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 181,586 shares of the utilities provider’s stock valued at $7,548,000 after buying an additional 162,430 shares during the period. Hedge funds and other institutional investors own 57.77% of the company’s stock.

Fortis Trading Up 0.4 %

NYSE:FTS opened at $42.40 on Friday. The company has a market capitalization of $21.17 billion, a PE ratio of 17.81, a P/E/G ratio of 3.77 and a beta of 0.50. Fortis Inc. has a 52-week low of $36.86 and a 52-week high of $46.06. The stock’s 50 day moving average price is $42.76 and its 200 day moving average price is $43.17. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 1.32.

Fortis (NYSE:FTS) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.59 by $0.26. Fortis had a net margin of 14.06% and a return on equity of 7.01%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, research analysts anticipate that Fortis Inc. will post 2.29 EPS for the current year.

Fortis Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.4382 per share. This represents a $1.75 annualized dividend and a yield of 4.13%. The ex-dividend date is Tuesday, February 18th. Fortis’s dividend payout ratio is presently 79.41%.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th.

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.