Fortis (NYSE:FTS) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. raised its holdings in Fortis (NYSE:FTS - Free Report) by 151.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 440,370 shares of the utilities provider's stock after acquiring an additional 265,570 shares during the period. Intact Investment Management Inc. owned 0.09% of Fortis worth $20,062,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Fortis by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 21,722,993 shares of the utilities provider's stock valued at $902,656,000 after acquiring an additional 364,391 shares during the last quarter. TD Asset Management Inc. raised its holdings in Fortis by 1.4% in the 4th quarter. TD Asset Management Inc. now owns 12,266,121 shares of the utilities provider's stock valued at $509,425,000 after acquiring an additional 173,226 shares during the last quarter. Scotia Capital Inc. raised its holdings in Fortis by 3.7% in the 4th quarter. Scotia Capital Inc. now owns 9,148,037 shares of the utilities provider's stock valued at $379,614,000 after acquiring an additional 329,767 shares during the last quarter. Toronto Dominion Bank raised its holdings in Fortis by 10.9% in the 4th quarter. Toronto Dominion Bank now owns 6,218,116 shares of the utilities provider's stock valued at $258,068,000 after acquiring an additional 612,395 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Fortis by 42.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,443,333 shares of the utilities provider's stock valued at $184,878,000 after acquiring an additional 1,316,394 shares during the last quarter. 57.77% of the stock is currently owned by institutional investors and hedge funds.

Fortis Stock Down 0.7%

Shares of Fortis stock opened at $46.99 on Friday. The company has a fifty day moving average price of $48.02 and a 200 day moving average price of $45.05. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 1.34. Fortis has a twelve month low of $38.27 and a twelve month high of $50.06. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 3.83 and a beta of 0.49.

Fortis (NYSE:FTS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Fortis had a net margin of 14.20% and a return on equity of 7.08%. The firm had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $3.42 billion. During the same period in the prior year, the company earned $0.93 EPS. Equities research analysts forecast that Fortis will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FTS has been the subject of several research reports. Royal Bank Of Canada boosted their price objective on shares of Fortis from $69.00 to $72.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Desjardins initiated coverage on shares of Fortis in a research note on Tuesday, May 6th. They set a "hold" rating for the company. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.

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