Meag Munich Ergo Kapitalanlagegesellschaft MBH maintained its position in shares of Fortis Inc. (NYSE:FTS) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 71,677 shares of the utilities provider’s stock at the end of the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Fortis were worth $2,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FTS. Parsons Capital Management Inc. RI raised its position in shares of Fortis by 1.3% in the first quarter. Parsons Capital Management Inc. RI now owns 17,492 shares of the utilities provider’s stock valued at $580,000 after buying an additional 216 shares during the last quarter. Creative Planning raised its position in shares of Fortis by 7.3% in the second quarter. Creative Planning now owns 3,307 shares of the utilities provider’s stock valued at $116,000 after buying an additional 225 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Fortis by 1.8% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 23,019 shares of the utilities provider’s stock valued at $762,000 after buying an additional 400 shares during the last quarter. Cardinal Capital Management Inc. raised its position in shares of Fortis by 5.5% in the second quarter. Cardinal Capital Management Inc. now owns 9,600 shares of the utilities provider’s stock valued at $337,000 after buying an additional 500 shares during the last quarter. Finally, United Bank Inc. raised its position in Fortis by 2.0% in the second quarter. United Bank Inc. now owns 28,423 shares of the utilities provider’s stock worth $999,000 after buying an additional 560 shares in the last quarter. Institutional investors own 51.87% of the company’s stock.

Fortis Inc. (NYSE FTS) opened at 36.30 on Monday. The firm has a market cap of $15.17 billion and a price-to-earnings ratio of 19.70. Fortis Inc. has a 52-week low of $29.14 and a 52-week high of $36.78. The company’s 50-day moving average price is $35.11 and its 200-day moving average price is $33.13.

Fortis (NYSE:FTS) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. Fortis had a return on equity of 6.87% and a net margin of 11.03%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm posted $0.45 EPS. Fortis’s quarterly revenue was up 35.7% compared to the same quarter last year. Analysts predict that Fortis Inc. will post $2.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 21st will be issued a $0.3197 dividend. The ex-dividend date is Thursday, August 17th. This is a boost from Fortis’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.52%. Fortis’s dividend payout ratio is presently 68.02%.

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FTS has been the subject of a number of analyst reports. Zacks Investment Research lowered Fortis from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 18th. CIBC lowered Fortis from an “outperform” rating to a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Fortis has an average rating of “Hold” and a consensus price target of $38.00.

Institutional Ownership by Quarter for Fortis (NYSE:FTS)

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