Hilltop Holdings Inc. purchased a new stake in Fortis Inc (NYSE:FTS) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,606 shares of the utilities provider’s stock, valued at approximately $358,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Analysts LLC raised its stake in Fortis by 641.8% in the 4th quarter. Capital Analysts LLC now owns 2,856 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 2,471 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Fortis by 203.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,878 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 1,931 shares during the period. Icon Wealth Partners LLC bought a new stake in Fortis in the 4th quarter valued at $261,000. ING Groep NV bought a new stake in Fortis in the 4th quarter valued at $276,000. Finally, Koch Industries Inc. bought a new stake in Fortis in the 1st quarter valued at $265,000. Institutional investors and hedge funds own 50.46% of the company’s stock.

NYSE FTS traded down $0.29 on Monday, reaching $31.17. The stock had a trading volume of 7,122 shares, compared to its average volume of 255,022. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.63 and a quick ratio of 0.54. Fortis Inc has a 1-year low of $30.88 and a 1-year high of $38.24. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.86 and a beta of -0.25.

Fortis (NYSE:FTS) last issued its quarterly earnings data on Tuesday, May 1st. The utilities provider reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Fortis had a return on equity of 6.92% and a net margin of 12.06%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the firm posted $0.69 EPS. equities analysts anticipate that Fortis Inc will post 2 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on FTS shares. Zacks Investment Research upgraded Fortis from a “sell” rating to a “hold” rating in a research note on Wednesday, May 23rd. ValuEngine cut Fortis from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. Scotiabank cut Fortis from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, May 1st. Finally, UBS Group started coverage on Fortis in a research note on Tuesday, May 1st. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.00.

About Fortis

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.

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Institutional Ownership by Quarter for Fortis (NYSE:FTS)

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