Raymond James Monetary Products and services Advisors Inc. grew its stake in stocks of Fortis Inc. (NYSE:FTS – Unfastened File) via 18.4% all through the second one quarter, consistent with its most up-to-date Shape 13F submitting with the Securities and Alternate Fee. The fund owned 12,193 stocks of the utilities supplier’s inventory after purchasing an extra 1,895 stocks all through the quarter. Raymond James Monetary Products and services Advisors Inc.’s holdings in Fortis had been price $525,000 on the finish of the latest quarter.

Plenty of different institutional traders and hedge price range have additionally not too long ago changed their holdings of the inventory. Banque Cantonale Vaudoise purchased a brand new stake in stocks of Fortis within the first quarter price about $25,000. Energy Corp of Canada bought a brand new place in stocks of Fortis all through the primary quarter valued at roughly $31,000. 5th 3rd Bancorp bought a brand new place in stocks of Fortis all through the primary quarter valued at roughly $44,000. Macquarie Workforce Ltd. bought a brand new place in stocks of Fortis all through the fourth quarter valued at roughly $61,000. In the end, Laurel Wealth Advisors LLC bought a brand new place in stocks of Fortis all through the primary quarter valued at roughly $69,000. 50.18% of the inventory is owned via institutional traders.

Analyst Scores Adjustments

FTS has been the subject of a number of analysis analyst stories. Financial institution of The united states diminished their goal payment on Fortis from $38.00 to $37.00 in a analysis notice on Wednesday, September twentieth. Royal Financial institution of Canada reissued a “sector carry out” ranking and issued a $61.00 goal payment on stocks of Fortis in a file on Thursday, September twenty eighth. StockNews.com downgraded Fortis from a “grasp” ranking to a “promote” ranking in a file on Tuesday. Credit score Suisse Workforce lowered their payment goal on Fortis from $61.50 to $60.50 and set a “impartial” ranking for the corporate in a analysis notice on Thursday, August twenty fourth. In the end, Raymond James lowered their payment goal on Fortis from $65.00 to $62.00 and set an “outperform” ranking for the corporate in a analysis notice on Thursday, August third. One analyst has rated the inventory with a promote ranking, 3 have assigned a grasp ranking and one has assigned a purchase ranking to the inventory. In accordance with information from MarketBeat, the corporate has a consensus ranking of “Dangle” and a median payment goal of $55.93.

Learn Our Newest Inventory Research on Fortis

Fortis Inventory Down 1.0 %

Fortis inventory opened at $39.73 on Wednesday. The inventory has a marketplace cap of $19.41 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of three.53 and a beta of 0.45. The corporate has a debt-to-equity ratio of one.26, a handy guide a rough ratio of 0.69 and a present ratio of 0.79. Fortis Inc. has a 365 days low of $36.30 and a 365 days top of $46.28. The inventory has a fifty day shifting reasonable of $39.56 and a 200 day shifting reasonable of $41.64.

Fortis (NYSE:FTS – Get Unfastened File) remaining issued its quarterly income effects on Wednesday, August second. The utilities supplier reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The industry had earnings of $1.93 billion all through the quarter, in comparison to analysts’ expectancies of $1.99 billion. Fortis had a go back on fairness of 6.99% and a web margin of 12.81%. All through the similar quarter within the prior yr, the industry posted $0.44 income in step with percentage. As a gaggle, sell-side analysts expect that Fortis Inc. will put up 2.24 EPS for the present yr.

Fortis Will increase Dividend

The company additionally not too long ago disclosed a quarterly dividend, which might be paid on Friday, December 1st. Stockholders of report on Friday, November seventeenth might be paid a $0.437 dividend. This can be a certain alternate from Fortis’s earlier quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, November sixteenth. This represents a $1.75 dividend on an annualized foundation and a dividend yield of four.40%. Fortis’s dividend payout ratio is 72.93%.

About Fortis

(Unfastened File)

Fortis Inc operates as an electrical and gasoline software corporate in Canada, america, and the Caribbean international locations. It generates, transmits, and distributes electrical energy to roughly 443,000 retail consumers in southeastern Arizona; and 102,000 retail consumers in Arizona’s Mohave and Santa Cruz counties with an mixture capability of three,328 megawatts (MW), together with 68 MW of sun capability and 250 MV of wind capability.

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