Addenda Capital Inc. Has $7.76 Million Stock Holdings in Fortis Inc. (NYSE:FTS)

Addenda Capital Inc. increased its position in Fortis Inc. (NYSE:FTS) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 186,643 shares of the utilities provider’s stock after purchasing an additional 1,747 shares during the quarter. Addenda Capital Inc.’s holdings in Fortis were worth $7,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank grew its position in shares of Fortis by 26.9% during the 2nd quarter. Toronto Dominion Bank now owns 9,071,484 shares of the utilities provider’s stock worth $352,336,000 after purchasing an additional 1,920,728 shares in the last quarter. National Bank of Canada FI grew its position in shares of Fortis by 21.8% during the 3rd quarter. National Bank of Canada FI now owns 5,190,336 shares of the utilities provider’s stock worth $235,839,000 after purchasing an additional 930,331 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Fortis by 15.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,747,036 shares of the utilities provider’s stock worth $170,230,000 after purchasing an additional 507,068 shares in the last quarter. Point72 Europe London LLP grew its position in shares of Fortis by 413.6% during the 3rd quarter. Point72 Europe London LLP now owns 395,474 shares of the utilities provider’s stock worth $17,973,000 after purchasing an additional 318,474 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Fortis during the 3rd quarter worth approximately $13,236,000. 57.77% of the stock is owned by institutional investors.

Fortis Trading Up 0.5 %

FTS opened at $41.98 on Tuesday. Fortis Inc. has a 1-year low of $36.86 and a 1-year high of $46.06. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32. The company has a market cap of $20.96 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 3.60 and a beta of 0.50. The company has a fifty day moving average price of $42.92 and a two-hundred day moving average price of $43.14.

Fortis (NYSE:FTS) last released its earnings results on Tuesday, November 5th. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.26. Fortis had a net margin of 14.06% and a return on equity of 7.01%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm earned $0.63 EPS. Analysts predict that Fortis Inc. will post 2.3 EPS for the current fiscal year.

Fortis Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be issued a dividend of $0.4382 per share. This represents a $1.75 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Tuesday, February 18th. Fortis’s dividend payout ratio is currently 79.41%.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered shares of Fortis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th.

Fortis Company Profile

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.