Mitchell & Pahl Private Wealth LLC Has $718,000 Stock Holdings in Fortis Inc. (NYSE:FTS)

Mitchell & Pahl Private Wealth LLC raised its position in Fortis Inc. (NYSE:FTS) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,276 shares of the utilities provider’s stock after acquiring an additional 1,182 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Fortis were worth $718,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FTS. BNP Paribas Financial Markets bought a new stake in shares of Fortis during the third quarter valued at approximately $44,000. Versant Capital Management Inc boosted its stake in Fortis by 34.1% during the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider’s stock worth $42,000 after buying an additional 256 shares in the last quarter. Cromwell Holdings LLC increased its holdings in Fortis by 52.2% in the 3rd quarter. Cromwell Holdings LLC now owns 1,837 shares of the utilities provider’s stock valued at $83,000 after buying an additional 630 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Fortis in the 3rd quarter valued at $149,000. Finally, CHICAGO TRUST Co NA bought a new position in shares of Fortis during the 3rd quarter worth about $209,000. Institutional investors and hedge funds own 57.77% of the company’s stock.

Wall Street Analyst Weigh In

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 Trading Up 0.5 %

Shares of FTS opened at $41.98 on Tuesday. 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 stock has a market cap of $20.96 billion, a PE ratio of 17.64, a PEG ratio of 3.76 and a beta of 0.50. Fortis Inc. has a 1 year low of $36.86 and a 1 year high of $46.06. The stock has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $43.14.

Fortis (NYSE:FTS) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.26. Fortis had a return on equity of 7.01% and a net margin of 14.06%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted $0.63 earnings per share. On average, sell-side analysts predict that Fortis Inc. will post 2.29 EPS for the current fiscal year.

Fortis Cuts Dividend

The company also recently declared 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 yield of 4.18%. The ex-dividend date of this dividend is Tuesday, February 18th. Fortis’s dividend payout ratio is currently 79.41%.

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.