Scotia Capital Inc. Has $106.93 Million Stake in Fortis Inc. (FTS)

Scotia Capital Inc. lessened its stake in Fortis Inc. (NYSE:FTS) by 5.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,047,417 shares of the utilities provider’s stock after selling 167,240 shares during the quarter. Fortis makes up about 1.8% of Scotia Capital Inc.’s holdings, making the stock its 10th largest position. Scotia Capital Inc. owned approximately 0.73% of Fortis worth $106,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Parametric Portfolio Associates LLC lifted its holdings in shares of Fortis by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 15,074 shares of the utilities provider’s stock valued at $530,000 after purchasing an additional 44 shares in the last quarter. Parsons Capital Management Inc. RI lifted its holdings in shares of Fortis by 1.3% in the first quarter. Parsons Capital Management Inc. RI now owns 17,492 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 216 shares in the last quarter. Creative Planning lifted its holdings in shares of Fortis by 7.3% in the second quarter. Creative Planning now owns 3,307 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 225 shares in the last quarter. Baskin Financial Services Inc. lifted its holdings in shares of Fortis by 0.6% in the second quarter. Baskin Financial Services Inc. now owns 37,523 shares of the utilities provider’s stock valued at $1,317,000 after purchasing an additional 226 shares in the last quarter. Finally, BB&T Securities LLC lifted its holdings in shares of Fortis by 0.5% in the second quarter. BB&T Securities LLC now owns 52,905 shares of the utilities provider’s stock valued at $1,859,000 after purchasing an additional 241 shares in the last quarter. Institutional investors own 52.19% of the company’s stock.

Shares of Fortis Inc. (NYSE:FTS) traded up 0.78% during mid-day trading on Tuesday, hitting $36.38. The company had a trading volume of 45,715 shares. Fortis Inc. has a 52 week low of $29.14 and a 52 week high of $37.67. The firm has a 50-day moving average price of $36.45 and a 200-day moving average price of $34.66. The firm has a market capitalization of $15.20 billion and a PE ratio of 19.05.

Fortis (NYSE:FTS) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Fortis had a return on equity of 6.87% and a net margin of 11.03%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. Equities analysts forecast that Fortis Inc. will post $2.45 earnings per share for the current year.

A number of research analysts have recently weighed in on the company. CIBC lowered Fortis from an “outperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded Fortis from a “strong sell” rating to a “hold” rating and set a $39.00 target price on the stock in a report on Monday, July 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.

WARNING: This piece of content was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of US and international copyright law. The correct version of this piece of content can be viewed at https://www.com-unik.info/2017/10/10/scotia-capital-inc-has-106-93-million-stake-in-fortis-inc-fts.html.

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 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 Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.

Want to see what other hedge funds are holding FTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortis Inc. (NYSE:FTS).

Institutional Ownership by Quarter for Fortis (NYSE:FTS)

What are top analysts saying about Fortis Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Fortis Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit