Fortis (NYSE:FTS) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its holdings in shares of Fortis (NYSE:FTS - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,816 shares of the utilities provider's stock after buying an additional 6,618 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.06% of Fortis worth $13,255,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Fortis by 286.7% in the first quarter. Farther Finance Advisors LLC now owns 1,106 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 820 shares during the period. Hexagon Capital Partners LLC lifted its position in Fortis by 111.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,226 shares of the utilities provider's stock valued at $56,000 after buying an additional 647 shares during the last quarter. NBC Securities Inc. lifted its position in Fortis by 158,500.0% in the first quarter. NBC Securities Inc. now owns 1,586 shares of the utilities provider's stock valued at $72,000 after buying an additional 1,585 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Fortis by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,828 shares of the utilities provider's stock valued at $83,000 after buying an additional 914 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Fortis by 7.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,302 shares of the utilities provider's stock valued at $179,000 after buying an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 57.77% of the company's stock.

Fortis Stock Up 0.0%

Shares of FTS traded up $0.01 during mid-day trading on Wednesday, hitting $46.84. 159,801 shares of the company's stock were exchanged, compared to its average volume of 614,424. The stock's 50-day moving average is $47.78 and its 200-day moving average is $45.42. The company has a market cap of $23.50 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 3.78 and a beta of 0.48. Fortis has a fifty-two week low of $39.06 and a fifty-two week high of $50.06. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.63 and a current ratio of 0.76.

Fortis (NYSE:FTS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $3.42 billion. Fortis had a net margin of 14.20% and a return on equity of 7.08%. During the same quarter last year, the company earned $0.93 earnings per share. On average, sell-side analysts anticipate that Fortis will post 2.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTS. Desjardins started coverage on shares of Fortis in a research report on Tuesday, May 6th. They issued a "hold" rating on the stock. Royal Bank Of Canada increased their price target on shares of Fortis from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. Finally, TD Securities started coverage on shares of Fortis in a research report on Friday, June 27th. They set a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Fortis presently has an average rating of "Hold" and a consensus price target of $72.00.

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.