Blue Trust Inc. Increases Position in Fortis Inc. (NYSE:FTS)

Blue Trust Inc. boosted its position in Fortis Inc. (NYSE:FTS) by 724.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 577 shares of the utilities provider’s stock after acquiring an additional 507 shares during the period. Blue Trust Inc.’s holdings in Fortis were worth $26,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp lifted its holdings in shares of Fortis by 6.3% during the 2nd quarter. Truist Financial Corp now owns 28,689 shares of the utilities provider’s stock worth $1,114,000 after acquiring an additional 1,691 shares during the period. CHICAGO TRUST Co NA acquired a new position in Fortis during the third quarter worth approximately $209,000. Creative Planning raised its stake in Fortis by 21.1% during the third quarter. Creative Planning now owns 52,266 shares of the utilities provider’s stock worth $2,375,000 after purchasing an additional 9,108 shares during the period. Washington Capital Management Inc. boosted its holdings in shares of Fortis by 14.6% in the 3rd quarter. Washington Capital Management Inc. now owns 18,815 shares of the utilities provider’s stock valued at $855,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its stake in shares of Fortis by 9.2% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 16,094 shares of the utilities provider’s stock valued at $731,000 after buying an additional 1,356 shares during the period. 57.77% of the stock is currently owned by institutional investors and hedge funds.

Fortis Stock Up 0.5 %

Shares of NYSE:FTS opened at $43.75 on Tuesday. The stock has a 50-day simple moving average of $42.37 and a 200-day simple moving average of $43.44. The stock has a market capitalization of $21.85 billion, a P/E ratio of 18.38, a PEG ratio of 3.94 and a beta of 0.50. Fortis Inc. has a 1 year low of $36.86 and a 1 year high of $46.06. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.63 and a current ratio of 0.74.

Fortis Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.4382 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.75 annualized dividend and a yield of 4.01%. Fortis’s dividend payout ratio is currently 71.01%.

Analyst Ratings Changes

Separately, Raymond James lowered Fortis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th.

Fortis Profile

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.