UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 15,821 Shares of Fortis Inc. (NYSE:FTS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Fortis Inc. (NYSE:FTS - Free Report) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 474,374 shares of the utilities provider's stock after selling 15,821 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of Fortis worth $19,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Fortis during the fourth quarter valued at approximately $1,751,000. Forsta AP Fonden raised its stake in Fortis by 94.8% during the 4th quarter. Forsta AP Fonden now owns 294,600 shares of the utilities provider's stock valued at $12,235,000 after purchasing an additional 143,400 shares during the last quarter. US Bancorp DE raised its stake in Fortis by 12.7% during the 4th quarter. US Bancorp DE now owns 14,544 shares of the utilities provider's stock valued at $605,000 after purchasing an additional 1,638 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Fortis by 7.4% in the 4th quarter. Bank of New York Mellon Corp now owns 533,741 shares of the utilities provider's stock valued at $22,188,000 after buying an additional 36,587 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Fortis by 8.1% in the 4th quarter. Cetera Investment Advisers now owns 18,584 shares of the utilities provider's stock valued at $773,000 after buying an additional 1,387 shares in the last quarter. 57.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FTS. Desjardins assumed coverage on shares of Fortis in a research note on Tuesday, May 6th. They issued a "hold" rating for the company. Jefferies Financial Group assumed coverage on shares of Fortis in a research report on Thursday, February 13th. They set a "hold" rating for the company. Finally, Royal Bank of Canada increased their target price 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. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $72.00.

Fortis Price Performance

NYSE:FTS traded up $0.63 during mid-day trading on Friday, reaching $48.85. 699,130 shares of the company were exchanged, compared to its average volume of 615,279. Fortis Inc. has a 12 month low of $38.15 and a 12 month high of $50.06. The company has a fifty day moving average of $47.32 and a 200 day moving average of $44.72. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock has a market cap of $24.50 billion, a PE ratio of 20.70, a PEG ratio of 3.94 and a beta of 0.50.

Fortis (NYSE:FTS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $3.42 billion. Fortis had a net margin of 14.12% and a return on equity of 7.09%. During the same quarter last year, the firm earned $0.93 EPS. On average, research analysts anticipate that Fortis Inc. will post 2.35 EPS for the current fiscal year.

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.