Fortis Inc. (NYSE:FTS) Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. reduced its position in Fortis Inc. (NYSE:FTS) by 16.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,597 shares of the utilities provider’s stock after selling 17,086 shares during the period. Louisbourg Investments Inc.’s holdings in Fortis were worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in Fortis by 34.1% in the 4th quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 256 shares in the last quarter. JCIC Asset Management Inc. lifted its stake in shares of Fortis by 5.5% in the 4th quarter. JCIC Asset Management Inc. now owns 5,087 shares of the utilities provider’s stock valued at $211,000 after purchasing an additional 267 shares during the last quarter. Code Waechter LLC raised its holdings in Fortis by 1.5% in the 4th quarter. Code Waechter LLC now owns 18,708 shares of the utilities provider’s stock valued at $778,000 after buying an additional 277 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in Fortis by 0.5% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 89,681 shares of the utilities provider’s stock worth $3,728,000 after buying an additional 447 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Fortis by 724.3% during the fourth quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 507 shares during the last quarter. 57.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Fortis Stock Up 0.3 %

Fortis stock opened at $43.89 on Wednesday. The firm has a market capitalization of $21.91 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.94 and a beta of 0.50. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32. Fortis Inc. has a twelve month low of $36.86 and a twelve month high of $46.06. The stock’s fifty day simple moving average is $42.34 and its 200-day simple moving average is $43.48.

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 $0.4382 dividend. This represents a $1.75 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, February 18th. Fortis’s dividend payout ratio (DPR) is presently 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.