DGS Capital Management LLC Acquires 831 Shares of Fortis Inc. (NYSE:FTS)

DGS Capital Management LLC increased its holdings in shares of Fortis Inc. (NYSE:FTS) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,576 shares of the utilities provider’s stock after buying an additional 831 shares during the period. DGS Capital Management LLC’s holdings in Fortis were worth $378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Lindbrook Capital LLC raised its stake in shares of Fortis by 111.2% during the fourth quarter. Lindbrook Capital LLC now owns 2,598 shares of the utilities provider’s stock worth $107,000 after buying an additional 1,368 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Fortis by 9.0% during the first quarter. Gulf International Bank UK Ltd now owns 3,340 shares of the utilities provider’s stock worth $132,000 after buying an additional 276 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Fortis by 29.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,527 shares of the utilities provider’s stock worth $186,000 after buying an additional 1,023 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Fortis by 20.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,586 shares of the utilities provider’s stock worth $189,000 after buying an additional 786 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Fortis by 9.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,228 shares of the utilities provider’s stock worth $215,000 after buying an additional 449 shares during the last quarter. 57.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Fortis from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Fortis has a consensus rating of “Hold” and an average price target of $55.13.

Fortis Stock Up 0.9 %

Shares of NYSE FTS opened at $39.02 on Friday. The stock has a market cap of $19.24 billion, a P/E ratio of 16.82, a P/E/G ratio of 2.76 and a beta of 0.46. The firm has a 50 day moving average price of $39.69 and a 200 day moving average price of $39.77. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.52 and a current ratio of 0.60. Fortis Inc. has a 52-week low of $36.30 and a 52-week high of $43.84.

Fortis (NYSE:FTS) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Fortis had a net margin of 13.66% and a return on equity of 7.02%. Analysts expect that Fortis Inc. will post 2.33 EPS for the current year.

Fortis Company 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.