Quantinno Capital Management LP Grows Position in Fortis $FTS

Quantinno Capital Management LP lifted its position in shares of Fortis (NYSE:FTS) by 37.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 333,219 shares of the utilities provider’s stock after purchasing an additional 91,219 shares during the quarter. Quantinno Capital Management LP owned about 0.07% of Fortis worth $18,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in Fortis in the first quarter worth $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Fortis in the 4th quarter worth about $34,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of Fortis by 157.4% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 700 shares of the utilities provider’s stock worth $36,000 after buying an additional 428 shares during the period. Larson Financial Group LLC increased its stake in shares of Fortis by 123.9% in the 3rd quarter. Larson Financial Group LLC now owns 739 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 409 shares in the last quarter. Finally, LOM Asset Management Ltd bought a new position in shares of Fortis in the 4th quarter worth about $43,000. 57.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FTS. Weiss Ratings reissued a “buy (b)” rating on shares of Fortis in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce downgraded shares of Fortis from an “outperform” rating to a “hold” rating in a research note on Friday, July 17th. Wall Street Zen lowered shares of Fortis from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Barclays dropped their price target on Fortis from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Fortis in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Fortis currently has an average rating of “Hold” and an average target price of $61.00.

Fortis Stock Performance

Shares of Fortis stock opened at $56.93 on Monday. Fortis has a 1 year low of $48.64 and a 1 year high of $59.40. The firm’s 50-day moving average is $57.01 and its 200 day moving average is $56.22. The stock has a market cap of $29.08 billion, a price-to-earnings ratio of 23.05 and a beta of 0.43. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.49 and a quick ratio of 0.41.

Fortis (NYSE:FTS) last issued its earnings results on Friday, July 31st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. Fortis had a net margin of 14.17% and a return on equity of 7.25%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Sell-side analysts anticipate that Fortis will post 2.58 EPS for the current fiscal year.

Fortis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be given a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.56 annualized dividend and a yield of 4.5%. Fortis’s dividend payout ratio is 72.87%.

Key Stories Impacting Fortis

Here are the key news stories impacting Fortis this week:

• Positive Sentiment: Earnings beat estimates: Fortis reported quarterly EPS of $0.78, up from $0.76 a year earlier and well above the consensus estimate of $0.56 in the company’s earnings release. A separate Zacks report cited adjusted EPS of $0.56 versus a $0.55 consensus, indicating the precise figure varies by accounting measure, but both measures reflected an earnings beat. Fortis earnings conference call
• Positive Sentiment: Tilbury LNG expansion approved: British Columbia approval of FortisBC’s Tilbury LNG expansion improves the outlook for a major infrastructure and growth project, potentially supporting long-term rate-base expansion and utility earnings. Fortis Q2 earnings and Tilbury LNG approval
• Positive Sentiment: Dividend maintained: Fortis declared a quarterly dividend of $0.64 per share, payable September 1 to shareholders of record August 19. The annualized payout implies an approximately 4.5% yield, reinforcing the stock’s appeal to income-focused investors. Fortis third-quarter dividend announcement
• Neutral Sentiment: Profitability remains steady: Fortis reported a 7.25% return on equity and a 14.21% net margin. These metrics support financial stability but do not indicate a material change in operating profitability.
• Negative Sentiment: Leverage and liquidity remain considerations: Fortis has a debt-to-equity ratio of 1.25, a current ratio of 0.49 and a quick ratio of 0.41. Elevated leverage and limited near-term liquidity could weigh on valuation, particularly if interest rates remain high or project costs increase.

About Fortis

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.