Tower Research Capital LLC TRC Decreases Stock Position in Fortis Inc. (NYSE:FTS)

Tower Research Capital LLC TRC trimmed its position in Fortis Inc. (NYSE:FTS - Free Report) by 85.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,287 shares of the utilities provider's stock after selling 7,594 shares during the period. Tower Research Capital LLC TRC's holdings in Fortis were worth $54,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Fortis by 724.3% during the 4th 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. Golden State Wealth Management LLC bought a new position in shares of Fortis in the fourth quarter worth $38,000. Lindbrook Capital LLC increased its holdings in shares of Fortis by 38.5% in the fourth quarter. Lindbrook Capital LLC now owns 2,726 shares of the utilities provider's stock worth $113,000 after purchasing an additional 758 shares during the period. Quadrant Capital Group LLC raised its position in shares of Fortis by 7.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,302 shares of the utilities provider's stock worth $179,000 after buying an additional 289 shares in the last quarter. Finally, Clear Creek Financial Management LLC bought a new stake in Fortis during the fourth quarter valued at $203,000. 57.77% of the stock is owned by hedge funds and other institutional investors.

Fortis Trading Down 0.3%

NYSE:FTS traded down $0.16 during trading hours on Friday, hitting $47.13. The company had a trading volume of 460,661 shares, compared to its average volume of 629,533. Fortis Inc. has a 52 week low of $38.15 and a 52 week high of $50.06. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a 50-day moving average price of $46.64 and a 200 day moving average price of $44.39. The company has a market capitalization of $23.64 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 3.94 and a beta of 0.50.

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

Analysts Set New Price Targets

A number of equities analysts have commented on FTS shares. Royal Bank of Canada boosted their price target on shares of Fortis from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th. Jefferies Financial Group initiated coverage on shares of Fortis in a research report on Thursday, February 13th. They issued a "hold" rating for the company. Finally, Desjardins began coverage on Fortis in a research note on Tuesday, May 6th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $72.00.

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.