Ameriprise Financial Inc. continued to hold its stake in shares of Fortis Inc. (NYSE:FTS) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,767 shares of the utilities provider’s stock at the end of the second quarter. Ameriprise Financial Inc.’s holdings in Fortis were worth $519,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Creative Planning grew its holdings in Fortis by 7.3% during the second quarter. Creative Planning now owns 3,307 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 225 shares during the period. Baskin Financial Services Inc. grew its holdings in Fortis by 0.6% during the second quarter. Baskin Financial Services Inc. now owns 37,523 shares of the utilities provider’s stock worth $1,317,000 after acquiring an additional 226 shares during the period. BB&T Securities LLC grew its holdings in Fortis by 0.5% during the second quarter. BB&T Securities LLC now owns 52,905 shares of the utilities provider’s stock worth $1,859,000 after acquiring an additional 241 shares during the period. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in Fortis by 2.1% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 23,512 shares of the utilities provider’s stock worth $826,000 after acquiring an additional 493 shares during the period. Finally, United Bank Inc. grew its holdings in Fortis by 2.0% during the second quarter. United Bank Inc. now owns 28,423 shares of the utilities provider’s stock worth $999,000 after acquiring an additional 560 shares during the period. Hedge funds and other institutional investors own 51.98% of the company’s stock.

Several research firms recently commented on FTS. Zacks Investment Research lowered Fortis from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. CIBC lowered Fortis from an “outperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.00.

Shares of Fortis Inc. (NYSE:FTS) opened at $37.70 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.52 and a quick ratio of 0.43. Fortis Inc. has a 1-year low of $29.14 and a 1-year high of $38.06. The company has a market capitalization of $15,815.15 and a P/E ratio of 19.33.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 20th will be issued a $0.3396 dividend. This is a positive change from Fortis’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Friday, November 17th. Fortis’s dividend payout ratio (DPR) is presently 67.54%.

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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 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.

Institutional Ownership by Quarter for Fortis (NYSE:FTS)

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