Duff & Phelps Investment Management Co. Has $18.54 Million Holdings in Fortis Inc (FTS)

Duff & Phelps Investment Management Co. lessened its stake in shares of Fortis Inc (NYSE:FTS) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 556,531 shares of the utilities provider’s stock after selling 5,184 shares during the period. Duff & Phelps Investment Management Co. owned 0.13% of Fortis worth $18,544,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Morgan Stanley grew its holdings in Fortis by 7.7% during the third quarter. Morgan Stanley now owns 13,240,227 shares of the utilities provider’s stock valued at $429,249,000 after purchasing an additional 949,811 shares during the last quarter. AMP Capital Investors Ltd grew its holdings in Fortis by 29.4% during the third quarter. AMP Capital Investors Ltd now owns 290,757 shares of the utilities provider’s stock valued at $9,440,000 after purchasing an additional 66,083 shares during the last quarter. Pictet Asset Management Ltd. acquired a new position in Fortis during the third quarter valued at approximately $31,202,000. JPMorgan Chase & Co. grew its holdings in Fortis by 274.4% during the third quarter. JPMorgan Chase & Co. now owns 572,827 shares of the utilities provider’s stock valued at $18,571,000 after purchasing an additional 419,837 shares during the last quarter. Finally, Glassman Wealth Services acquired a new position in Fortis during the third quarter valued at approximately $132,000. Institutional investors own 49.31% of the company’s stock.

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Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Fortis from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. UBS Group restated a “buy” rating on shares of Fortis in a research note on Saturday, February 2nd. Zacks Investment Research upgraded shares of Fortis from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. National Bank Financial restated a “hold” rating on shares of Fortis in a research note on Tuesday, January 29th. Finally, TD Securities downgraded shares of Fortis from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold”.

Shares of Fortis stock opened at $36.02 on Friday. The firm has a market capitalization of $15.44 billion, a PE ratio of 18.47, a P/E/G ratio of 3.73 and a beta of 0.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.49 and a current ratio of 0.59. Fortis Inc has a 1 year low of $30.88 and a 1 year high of $36.21.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be paid a $0.342 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.37 annualized dividend and a dividend yield of 3.80%. Fortis’s payout ratio is 69.74%.

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Fortis Company Profile

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 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.

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