Fortis Inc. (NYSE:FTS) Shares Sold by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. reduced its stake in shares of Fortis Inc. (NYSE:FTS - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,864 shares of the utilities provider's stock after selling 7,644 shares during the quarter. Richard C. Young & CO. LTD.'s holdings in Fortis were worth $6,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI increased its stake in shares of Fortis by 21.8% during the third quarter. National Bank of Canada FI now owns 5,190,336 shares of the utilities provider's stock worth $235,839,000 after acquiring an additional 930,331 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Fortis by 15.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,747,036 shares of the utilities provider's stock worth $170,230,000 after acquiring an additional 507,068 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Fortis by 0.7% during the third quarter. The Manufacturers Life Insurance Company now owns 3,126,939 shares of the utilities provider's stock worth $142,172,000 after acquiring an additional 22,411 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Fortis by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 2,890,184 shares of the utilities provider's stock worth $131,330,000 after acquiring an additional 250,630 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Fortis by 10.3% during the third quarter. Geode Capital Management LLC now owns 2,404,404 shares of the utilities provider's stock worth $111,771,000 after acquiring an additional 223,733 shares during the period. 57.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Raymond James lowered shares of Fortis from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th.

Fortis Price Performance

FTS stock traded down $0.06 during trading on Wednesday, reaching $43.89. 343,616 shares of the company were exchanged, compared to its average volume of 392,211. The company has a market cap of $21.91 billion, a P/E ratio of 18.44, a PEG ratio of 3.94 and a beta of 0.50. Fortis Inc. has a 52-week low of $36.86 and a 52-week high of $46.06. The stock's 50 day moving average price is $42.34 and its 200 day moving average price is $43.48. 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 business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be issued a dividend of $0.4382 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Tuesday, February 18th. Fortis's dividend payout ratio is currently 79.41%.

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.