The Successful Investor, in its September, 2014, issue, says hold Fortis Inc., recently $33. The Investor said buy 17 times from January, 1999, to December, 2010, at prices ranging from $23 to $74 (the stock split 4 for 1 on Oct. 12, 2005). Assuming an investment of $1,000 for each of the 17 buys, the $17,000 position would now be worth $37,719. The electricity and gas provider has completed its takeover of UNS Eenergy for $4.3-billion (U.S.). In addition to acquisitions, Fortis is upgrading its existing operations. For example, it is spending $900-million to expand its Waneta hydroelectric plant in British Columbia, which should begin operations in early 2015. In the quarter ended June 30, 2014, the company's revenues rose to $1.1-billion from $790-million a year ago, as a result of Fortis acquiring CH Energy. Earnings for the latest quarter were $61-million, unchanged from last year, since the company paid more interest as a result of borrowing for CH Energy. Per-share earnings declined to 28 cents in the second quarter of 2014 from 32 cents a year earlier. The stock trades at a high 20.4 times the $1.62 a share Fortis should earn this year. Its $1.28 dividend is a 3.9-per-cent yield. Hold.