Unigestion Holding SA Sells 24,200 Shares of Fortis Inc. (NYSE:FTS)

Unigestion Holding SA trimmed its position in shares of Fortis Inc. (NYSE:FTS - Free Report) by 38.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,083 shares of the utilities provider's stock after selling 24,200 shares during the period. Unigestion Holding SA's holdings in Fortis were worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in Fortis by 3.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,887 shares of the utilities provider's stock valued at $744,000 after purchasing an additional 531 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Fortis by 724.3% in the fourth quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock worth $26,000 after acquiring an additional 507 shares during the period. Clear Creek Financial Management LLC purchased a new position in shares of Fortis in the fourth quarter valued at $203,000. Golden State Wealth Management LLC bought a new stake in shares of Fortis during the 4th quarter valued at $38,000. Finally, Kingsview Wealth Management LLC raised its stake in shares of Fortis by 14.9% during the 4th quarter. Kingsview Wealth Management LLC now owns 5,385 shares of the utilities provider's stock valued at $224,000 after purchasing an additional 698 shares during the period. 57.77% of the stock is owned by hedge funds and other institutional investors.

Fortis Trading Down 0.2%

Shares of Fortis stock traded down $0.09 during trading on Thursday, reaching $48.05. 382,599 shares of the stock were exchanged, compared to its average volume of 613,373. The firm has a market cap of $24.10 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 3.94 and a beta of 0.50. Fortis Inc. has a 1 year low of $38.15 and a 1 year high of $50.06. The stock's fifty day moving average is $47.54 and its 200 day moving average is $44.81. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

Fortis (NYSE:FTS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates 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 14.12% and a return on equity of 7.09%. During the same quarter in the previous year, the business posted $0.93 EPS. As a group, equities research analysts expect that Fortis Inc. will post 2.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FTS has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on shares of Fortis in a research report on Thursday, February 13th. They set a "hold" rating for the company. Royal Bank of Canada lifted their price objective on Fortis from $69.00 to $72.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Finally, Desjardins assumed coverage on Fortis in a report on Tuesday, May 6th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $72.00.

Fortis Company 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.