07:13:45 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Fortis Inc
Symbol FTS
Shares Issued 216,029,693
Close 2014-10-07 C$ 35.03
Market Cap C$ 7,567,520,146
Recent Sedar Documents

Globe's Heinzl believes Fortis finally turning around

2014-10-08 07:40 ET - In the News

The Globe and Mail reports in its Wednesday edition that Fortis is gaining legs. The Globe's John Heinzl writes in the Yield Hog column that Fortis has been one of the worst performing stocks in his Strategy Lab model dividend portfolio. Mr. Heinzl says he also owns the shares personally. He says he stuck with Fortis because, "I believe it has a bright future despite its short-term challenges." Mr. Heinzl says he added more shares to his model portfolio about a year ago. Mr. Heinzl notes the stock has been rallying of late, even as the rest of the market struggles. This year Fortis shares are up about 15 per cent, compared with a gain of about 7 per cent for the S&P/TSX composite index. Fortis's total return -- including dividends -- has been more than 18 per cent. Mr. Heinzl says he cannot speak for the short term, "but I believe there will be more gains in the long run." He says he likes Fortis, in part, because the company is expanding and is one of the most consistent dividend growers around. It typically announces increases in December or early January, and in recent years the hikes have averaged between 3 per cent and 4 per cent. He believes dividends are poised to rise at an increased pace.

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