Citigroup Inc. decreased its stake in Fortis Inc. (NYSE:FTS – Get Rating) by 14.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,126 shares of the utilities provider’s stock after selling 29,121 shares during the quarter. Citigroup Inc.’s holdings in Fortis were worth $6,643,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FTS. Richard W. Paul & Associates LLC bought a new position in Fortis in the 4th quarter worth $31,000. Power Corp of Canada acquired a new stake in shares of Fortis during the 1st quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Fortis during the 4th quarter valued at about $47,000. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Fortis during the 4th quarter valued at about $75,000. Finally, Gamble Jones Investment Counsel bought a new position in Fortis during the 3rd quarter valued at about $77,000. Hedge funds and other institutional investors own 49.59% of the company’s stock.
Fortis Stock Performance
NYSE FTS opened at $43.42 on Friday. Fortis Inc. has a 1 year low of $34.76 and a 1 year high of $50.89. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.68 and a quick ratio of 0.58. The firm has a market cap of $21.04 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 3.61 and a beta of 0.44. The company has a fifty day moving average price of $43.44 and a 200-day moving average price of $41.47.
Analyst Upgrades and Downgrades
Fortis, Inc is a holding company, which engages in the electric and gas utility industry. It operates under the Regulated Utilities and Non-Regulated segments. The Regulated Utilities segment includes ITC Holdings (ITC), UNS Energy Corporation (UNS Energy), Central Hudson, FortisBC Energy, FortisAlberta, and FortisBC Electric.
- Get a free copy of the StockNews.com research report on Fortis (FTS)
- Applied Materials: Cracks In The Chip Recovery Or Time To Buy?
- Deere & Company Rallies On Farm Equipment Boom, Bullish Outlook
- How Many Roth IRAs Can You Have?
- Why You Should Consider Buying Nvidia Ahead Of Earnings
- Foot Locker And The Ebbing Tide Of Discretionary Spending
Want to see what other hedge funds are holding FTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortis Inc. (NYSE:FTS – Get Rating).
Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.