Invesco Ltd. Has $56.52 Million Position in Fortis Inc. (NYSE:FTS)

Invesco Ltd. lifted its holdings in Fortis Inc. (NYSE:FTS - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,359,640 shares of the utilities provider's stock after purchasing an additional 61,525 shares during the period. Invesco Ltd. owned 0.27% of Fortis worth $56,520,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in shares of Fortis by 34.1% during the 4th quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider's stock worth $42,000 after acquiring an additional 256 shares in the last quarter. JCIC Asset Management Inc. lifted its holdings in Fortis by 5.5% in the 4th quarter. JCIC Asset Management Inc. now owns 5,087 shares of the utilities provider's stock worth $211,000 after purchasing an additional 267 shares during the last quarter. Code Waechter LLC boosted its position in Fortis by 1.5% during the fourth quarter. Code Waechter LLC now owns 18,708 shares of the utilities provider's stock worth $778,000 after purchasing an additional 277 shares during the period. Commonwealth Equity Services LLC grew its holdings in Fortis by 3.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,515 shares of the utilities provider's stock valued at $396,000 after purchasing an additional 277 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Fortis by 7.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,302 shares of the utilities provider's stock valued at $179,000 after purchasing an additional 289 shares during the last quarter. 57.77% of the stock is currently owned by institutional investors.

Fortis Stock Performance

FTS traded up $0.53 during midday trading on Friday, reaching $48.16. The company's stock had a trading volume of 668,501 shares, compared to its average volume of 636,647. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30. The company has a fifty day simple moving average of $45.05 and a 200 day simple moving average of $43.86. The stock has a market cap of $24.16 billion, a P/E ratio of 20.41, a PEG ratio of 3.94 and a beta of 0.46. Fortis Inc. has a twelve month low of $38.09 and a twelve month high of $48.38.

Fortis (NYSE:FTS - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fortis had a net margin of 14.12% and a return on equity of 7.09%. During the same quarter last year, the company posted $0.72 earnings per share. Research analysts expect that Fortis Inc. will post 2.35 earnings per share for the current year.

Fortis Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be given a dividend of $0.4324 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Friday, May 16th. Fortis's dividend payout ratio is currently 72.03%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group began coverage on shares of Fortis in a report on Thursday, February 13th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, Fortis currently has an average rating of "Hold".

About Fortis

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.