41,000 Shares in Fortis Inc (NYSE:FTS) Purchased by Marshall Wace LLP

Marshall Wace LLP purchased a new position in shares of Fortis Inc (NYSE:FTS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 41,000 shares of the utilities provider’s stock, valued at approximately $1,516,000.

Several other large investors also recently bought and sold shares of the company. Toronto Dominion Bank boosted its position in shares of Fortis by 40.6% in the 1st quarter. Toronto Dominion Bank now owns 11,480,664 shares of the utilities provider’s stock worth $424,250,000 after buying an additional 3,314,547 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Fortis by 3.0% in the 3rd quarter. Vanguard Group Inc now owns 11,112,501 shares of the utilities provider’s stock worth $360,268,000 after buying an additional 326,547 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Fortis by 1.7% in the 1st quarter. TD Asset Management Inc. now owns 9,321,265 shares of the utilities provider’s stock worth $344,607,000 after buying an additional 157,083 shares in the last quarter. GQG Partners LLC boosted its position in shares of Fortis by 14.1% in the 1st quarter. GQG Partners LLC now owns 5,234,809 shares of the utilities provider’s stock worth $193,323,000 after buying an additional 648,264 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Fortis by 7.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 4,170,847 shares of the utilities provider’s stock worth $138,901,000 after buying an additional 290,515 shares in the last quarter. 51.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of Fortis stock traded up $0.10 on Thursday, hitting $39.81. 308,900 shares of the company’s stock traded hands, compared to its average volume of 364,473. The firm has a market capitalization of $17.26 billion, a PE ratio of 20.84, a P/E/G ratio of 3.96 and a beta of 0.18. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.37. The business’s 50-day simple moving average is $39.31. Fortis Inc has a 52-week low of $31.37 and a 52-week high of $40.47.

Fortis (NYSE:FTS) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Fortis had a return on equity of 6.44% and a net margin of 12.61%. During the same period in the prior year, the business posted $0.69 EPS. As a group, equities research analysts predict that Fortis Inc will post 1.96 earnings per share for the current fiscal year.

A number of research firms have issued reports on FTS. Bank of America set a $54.00 target price on shares of Fortis and gave the company a “buy” rating in a report on Thursday, May 2nd. BMO Capital Markets restated a “buy” rating and issued a $50.00 target price on shares of Fortis in a report on Tuesday, April 16th. Raymond James set a $86.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a report on Tuesday, April 23rd. Veritas Investment Research lowered shares of Fortis from a “buy” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Zacks Investment Research lowered shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Fortis has a consensus rating of “Hold” and a consensus target price of $50.25.

About Fortis

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 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.

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Institutional Ownership by Quarter for Fortis (NYSE:FTS)

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