Van ECK Associates Corp Purchases 18,304 Shares of Fortis $FTS

Posted by on Sep 1st, 2026

Van ECK Associates Corp raised its holdings in shares of Fortis (NYSE:FTS – Free Report) by 8.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,393 shares of the utilities provider’s stock after purchasing an additional 18,304 shares during the quarter. Van ECK Associates Corp’s holdings in Fortis were worth $12,842,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Fortis by 4.6% during the first quarter. Royal Bank of Canada now owns 35,241,451 shares of the utilities provider’s stock valued at $1,966,121,000 after buying an additional 1,557,443 shares during the last quarter. FIL Ltd raised its holdings in shares of Fortis by 9.1% in the 4th quarter. FIL Ltd now owns 19,898,613 shares of the utilities provider’s stock worth $1,034,545,000 after acquiring an additional 1,666,481 shares during the last quarter. Scotia Capital Inc. lifted its position in Fortis by 3.7% in the 3rd quarter. Scotia Capital Inc. now owns 9,163,354 shares of the utilities provider’s stock valued at $461,748,000 after acquiring an additional 326,212 shares in the last quarter. Cibc World Market Inc. lifted its position in Fortis by 8.6% in the 4th quarter. Cibc World Market Inc. now owns 8,564,134 shares of the utilities provider’s stock valued at $445,335,000 after acquiring an additional 677,226 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Fortis by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 6,593,417 shares of the utilities provider’s stock valued at $357,381,000 after purchasing an additional 372,377 shares during the last quarter. 57.77% of the stock is owned by institutional investors.

Fortis Trading Up 1.1%

NYSE:FTS opened at $55.24 on Tuesday. Fortis has a 52 week low of $48.64 and a 52 week high of $59.40. The firm has a 50-day moving average price of $56.96 and a two-hundred day moving average price of $56.64. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.47 and a current ratio of 0.56. The firm has a market cap of $28.22 billion, a price-to-earnings ratio of 22.36 and a beta of 0.43.

Fortis (NYSE:FTS – Get Free Report) last released its earnings results on Friday, July 31st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.83 billion. Fortis had a return on equity of 7.16% and a net margin of 14.17%.During the same period in the prior year, the company posted $0.76 earnings per share. On average, equities analysts expect that Fortis will post 2.56 earnings per share for the current fiscal year.

Fortis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Wednesday, August 19th. Fortis’s dividend payout ratio is 73.68%.

Analyst Ratings Changes

Several brokerages have recently commented on FTS. Canadian Imperial Bank of Commerce downgraded Fortis from an “outperform” rating to a “hold” rating in a research note on Friday, July 17th. Wall Street Zen cut Fortis from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Barclays decreased their price target on Fortis from $61.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Scotiabank reissued a “sector perform” rating on shares of Fortis in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada raised their price objective on Fortis from $80.00 to $89.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Fortis currently has an average rating of “Hold” and a consensus target price of $66.33.

View Our Latest Report on Fortis

About Fortis

(Free Report)

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.

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Institutional Ownership by Quarter for Fortis (NYSE:FTS)

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