Montrusco Bolton Investments Inc. Trims Holdings in Fortis Inc. (FTS)

Montrusco Bolton Investments Inc. lessened its holdings in shares of Fortis Inc. (NYSE:FTS) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,633,841 shares of the utilities provider’s stock after selling 20,954 shares during the period. Fortis makes up about 3.3% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 8th largest holding. Montrusco Bolton Investments Inc.’s holdings in Fortis were worth $60,127,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. AXA boosted its position in Fortis by 22.3% during the 3rd quarter. AXA now owns 435,972 shares of the utilities provider’s stock worth $15,595,000 after acquiring an additional 79,523 shares during the period. Guardian Capital Advisors LP boosted its position in Fortis by 2.7% during the 3rd quarter. Guardian Capital Advisors LP now owns 82,437 shares of the utilities provider’s stock worth $3,859,000 after acquiring an additional 2,134 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Fortis by 4.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,900 shares of the utilities provider’s stock worth $1,885,000 after acquiring an additional 3,000 shares during the period. AMP Capital Investors Ltd boosted its position in Fortis by 2.6% during the 3rd quarter. AMP Capital Investors Ltd now owns 179,175 shares of the utilities provider’s stock worth $6,414,000 after acquiring an additional 4,461 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Fortis by 25.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,271 shares of the utilities provider’s stock worth $5,367,000 after acquiring an additional 29,868 shares during the period. Institutional investors own 50.90% of the company’s stock.

Fortis Inc. (FTS) traded down $0.37 on Friday, hitting $35.02. The stock had a trading volume of 328,900 shares, compared to its average volume of 294,775. Fortis Inc. has a 12 month low of $30.93 and a 12 month high of $38.24. The company has a quick ratio of 0.43, a current ratio of 0.52 and a debt-to-equity ratio of 1.31. The company has a market cap of $14,850.00, a P/E ratio of 17.42, a PEG ratio of 3.24 and a beta of 0.43.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.3353 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, February 14th. Fortis’s dividend payout ratio is presently 66.67%.

FTS has been the subject of a number of analyst reports. Scotiabank reiterated a “buy” rating and set a $51.00 price target on shares of Fortis in a research report on Monday, December 4th. Zacks Investment Research downgraded Fortis from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $42.33.

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Fortis 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 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.

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Institutional Ownership by Quarter for Fortis (NYSE:FTS)

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