Aperio Group LLC Has $6.06 Million Position in Fortis Inc (FTS)

Aperio Group LLC lifted its position in Fortis Inc (NYSE:FTS) by 67.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,841 shares of the utilities provider’s stock after acquiring an additional 75,280 shares during the period. Aperio Group LLC’s holdings in Fortis were worth $6,057,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Morgan Stanley raised its position in shares of Fortis by 3.1% in the 2nd quarter. Morgan Stanley now owns 12,290,416 shares of the utilities provider’s stock valued at $391,819,000 after acquiring an additional 368,124 shares during the period. TD Asset Management Inc. raised its position in shares of Fortis by 2.4% in the 2nd quarter. TD Asset Management Inc. now owns 9,190,165 shares of the utilities provider’s stock valued at $293,569,000 after acquiring an additional 213,453 shares during the period. Toronto Dominion Bank raised its position in shares of Fortis by 28.0% in the 2nd quarter. Toronto Dominion Bank now owns 8,426,529 shares of the utilities provider’s stock valued at $269,575,000 after acquiring an additional 1,845,301 shares during the period. Legal & General Group Plc raised its position in shares of Fortis by 13.1% in the 2nd quarter. Legal & General Group Plc now owns 5,612,767 shares of the utilities provider’s stock valued at $179,282,000 after acquiring an additional 648,382 shares during the period. Finally, Bank of Nova Scotia raised its position in shares of Fortis by 7.6% in the 2nd quarter. Bank of Nova Scotia now owns 3,246,050 shares of the utilities provider’s stock valued at $103,577,000 after acquiring an additional 230,089 shares during the period. Institutional investors and hedge funds own 49.87% of the company’s stock.

Shares of FTS stock opened at $32.98 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.49 and a current ratio of 0.59. The company has a market cap of $14.07 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 3.40 and a beta of -0.13. Fortis Inc has a 52 week low of $30.88 and a 52 week high of $38.24.

Fortis (NYSE:FTS) last announced its earnings results on Tuesday, July 31st. The utilities provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.44 by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.57 billion. Fortis had a net margin of 11.97% and a return on equity of 6.75%. During the same period last year, the company posted $0.61 EPS. On average, analysts forecast that Fortis Inc will post 1.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.349 per share. This is an increase from Fortis’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 4.23%. The ex-dividend date is Monday, November 19th. Fortis’s dividend payout ratio (DPR) is 66.67%.

FTS has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Fortis from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. ValuEngine upgraded shares of Fortis from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Finally, Bank of America started coverage on shares of Fortis in a report on Tuesday, October 9th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $45.00.

Fortis Profile

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 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.

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Institutional Ownership by Quarter for Fortis (NYSE:FTS)

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