Cidel Asset Management Inc. Purchases 25,809 Shares of Fortis $FTS

Cidel Asset Management Inc. lifted its position in Fortis (NYSE:FTS) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 963,061 shares of the utilities provider’s stock after purchasing an additional 25,809 shares during the quarter. Fortis accounts for approximately 2.8% of Cidel Asset Management Inc.’s holdings, making the stock its 5th biggest holding. Cidel Asset Management Inc. owned approximately 0.19% of Fortis worth $48,859,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FTS. AQR Capital Management LLC acquired a new stake in shares of Fortis during the first quarter worth approximately $311,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Fortis by 19.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 565,150 shares of the utilities provider’s stock worth $25,760,000 after acquiring an additional 90,776 shares during the last quarter. US Bancorp DE increased its holdings in Fortis by 2.0% during the 2nd quarter. US Bancorp DE now owns 18,070 shares of the utilities provider’s stock valued at $862,000 after purchasing an additional 359 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Fortis by 47.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,250 shares of the utilities provider’s stock valued at $489,000 after purchasing an additional 3,293 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Fortis in the second quarter worth $632,000. 57.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FTS. Wall Street Zen lowered Fortis from a “hold” rating to a “sell” rating in a research note on Saturday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Fortis in a research report on Tuesday, October 21st. BMO Capital Markets reiterated 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. Finally, Scotiabank restated a “sector perform” rating on shares of Fortis in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Fortis News Roundup

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

Fortis Trading Up 1.3%

FTS opened at $56.82 on Friday. The firm has a 50 day simple moving average of $52.41 and a 200 day simple moving average of $51.22. Fortis has a fifty-two week low of $42.95 and a fifty-two week high of $57.01. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 4.45 and a beta of 0.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.54.

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

Fortis Dividend Announcement

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

Fortis Company Profile

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.