UniSuper Management Pty Ltd Has $395,000 Holdings in Fortis Inc. (NYSE:FTS)

UniSuper Management Pty Ltd lowered its holdings in shares of Fortis Inc. (NYSE:FTS) by 18.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,500 shares of the utilities provider’s stock after selling 2,100 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Fortis were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of Fortis by 724.3% in the 4th quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 507 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Fortis during the fourth quarter valued at approximately $38,000. Versant Capital Management Inc raised its position in shares of Fortis by 34.1% in the fourth 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 during the period. BNP Paribas Financial Markets acquired a new stake in shares of Fortis in the third quarter worth $44,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Fortis by 38.5% during the 4th quarter. Lindbrook Capital LLC now owns 2,726 shares of the utilities provider’s stock worth $113,000 after buying an additional 758 shares during the period. Institutional investors and hedge funds own 57.77% of the company’s stock.

Fortis Stock Performance

FTS opened at $45.57 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock’s 50 day moving average price is $43.99 and its two-hundred day moving average price is $43.71. The firm has a market capitalization of $22.76 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 3.94 and a beta of 0.48. Fortis Inc. has a 12-month low of $36.86 and a 12-month high of $46.08.

Fortis (NYSE:FTS) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Fortis had a net margin of 14.12% and a return on equity of 7.09%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the company posted $0.72 earnings per share. On average, equities analysts forecast that Fortis Inc. will post 2.35 earnings per share for the current year.

Fortis Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 16th will be issued a dividend of $0.4324 per share. The ex-dividend date is Friday, May 16th. This represents a $1.73 annualized dividend and a dividend yield of 3.80%. Fortis’s payout ratio is 72.03%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group assumed coverage on shares of Fortis in a report on Thursday, February 13th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

About Fortis

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.