Shell Asset Management Co. Sells 28,400 Shares of Fortis $FTS

Shell Asset Management Co. lowered its holdings in shares of Fortis (NYSE:FTS) by 38.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,623 shares of the utilities provider’s stock after selling 28,400 shares during the period. Shell Asset Management Co.’s holdings in Fortis were worth $2,315,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FTS. Smartleaf Asset Management LLC grew its position in shares of Fortis by 2,119.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,043 shares of the utilities provider’s stock worth $49,000 after buying an additional 996 shares during the period. State of Wyoming acquired a new stake in Fortis in the second quarter worth $56,000. Allworth Financial LP grew its holdings in Fortis by 157.3% in the second quarter. Allworth Financial LP now owns 1,253 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 766 shares during the period. MAI Capital Management increased its stake in Fortis by 55.8% in the second quarter. MAI Capital Management now owns 2,067 shares of the utilities provider’s stock valued at $99,000 after purchasing an additional 740 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new position in shares of Fortis during the second quarter valued at about $119,000. 57.77% of the stock is owned by institutional investors and hedge funds.

Fortis Trading Up 1.3%

Shares of Fortis stock opened at $56.82 on Friday. The company has a market capitalization of $28.83 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 4.45 and a beta of 0.50. The stock has a fifty day simple moving average of $52.41 and a 200 day simple moving average of $51.22. Fortis has a 12-month low of $42.95 and a 12-month high of $57.01. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 1.32.

Fortis (NYSE:FTS) last posted its quarterly earnings data on Thursday, February 12th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Fortis had a net margin of 14.24% and a return on equity of 7.23%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm earned $0.83 EPS. On average, sell-side analysts anticipate that Fortis will post 2.35 earnings per share for the current fiscal year.

Fortis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $0.64 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.56 annualized dividend and a yield of 4.5%. Fortis’s dividend payout ratio (DPR) is 76.23%.

Wall Street Analysts Forecast Growth

FTS has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Fortis in a research report on Friday. Royal Bank Of Canada reissued a “sector perform” rating on shares of Fortis in a research note on Friday. Scotiabank reaffirmed a “sector perform” rating on shares of Fortis in a research report on Friday. National Bank Financial reissued a “sector perform” rating on shares of Fortis in a research report on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Fortis from a “hold” rating to a “sell” rating in a report on Saturday. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

More Fortis News

Here are the key news stories impacting Fortis this week:

• Positive Sentiment: Q4 earnings call highlighted “strong growth and strategic investments,” management commentary emphasized ongoing regulated growth drivers and execution of utility projects — supportive for long-term regulated cash flow expectations. Fortis Inc (FTS) Q4 2025 Earnings Call Highlights: Strong Growth and Strategic Investments …
• Positive Sentiment: Company unveiled a record $28.8 billion capital plan for its utility portfolio and reported higher 2025 net earnings — the large multi-year capex plan signals growth in rate base and future regulated earnings. Fortis Posts Higher 2025 Earnings and Unveils Record $28.8 Billion Capital Plan
• Positive Sentiment: Board declared the quarterly common dividend (annualized yield ~4.6%) and set record/ex-dividend dates — supports income investors and underscores management’s commitment to shareholder distributions. Fortis Inc. Announces Second Quarter Dividends – 2026
• Neutral Sentiment: Fortis filed audited 2025 year-end financial and regulatory disclosure documents (designated news releases) and published the earnings press release and slide deck — important for transparency but routine for a regulated utility. Fortis Inc. Files 2025 Year-End Disclosure Documents
• Negative Sentiment: While EPS of $0.65 beat consensus (~$0.62), revenue missed materially ($2.13B actual vs. $2.54B expected) and quarterly EPS declined year‑over‑year — a near-term warning on topline/utility recoveries that could pressure short-term sentiment. Fortis Q4 earnings and conference call

About Fortis

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.