Jefferies Financial Group Begins Coverage on Fortis (NYSE:FTS)

Analysts at Jefferies Financial Group initiated coverage on shares of Fortis (NYSE:FTS) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm set a “hold” rating on the utilities provider’s stock.

Separately, Raymond James downgraded shares of Fortis from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Fortis Trading Down 0.1 %

Shares of FTS stock opened at $43.89 on Thursday. Fortis has a 1-year low of $36.86 and a 1-year high of $46.06. The firm has a market cap of $21.91 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.94 and a beta of 0.50. The company has a 50-day moving average of $42.34 and a two-hundred day moving average of $43.48. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.74 and a quick ratio of 0.63.

Institutional Trading of Fortis

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of Fortis by 724.3% during the 4th quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 507 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Fortis during the fourth quarter worth approximately $38,000. Versant Capital Management Inc lifted its stake in Fortis by 34.1% during the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 256 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Fortis in the third quarter valued at approximately $44,000. Finally, Cromwell Holdings LLC grew its position in shares of Fortis by 52.2% in the 3rd quarter. Cromwell Holdings LLC now owns 1,837 shares of the utilities provider’s stock valued at $83,000 after buying an additional 630 shares during the last quarter. 57.77% of the stock is currently owned by institutional investors and hedge funds.

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.