00:22:03 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Fortis Inc
Symbol FTS
Shares Issued 216,029,693
Close 2014-10-15 C$ 34.33
Market Cap C$ 7,416,299,361
Recent Sedar Documents

Successful Inv says hold Fortis

2014-10-16 18:16 ET - In the News

The Successful Investor, in its October, 2014, issue, says hold Fortis Inc., recently $34. 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 $38,862. The energy provider is spending $400-million on the expansion of its Tilbury Island liquefied natural gas plant in Delta, B.C. To put the amount into context, Fortis earned $353-million in 2013. The expansion will help the company meet rising demand as trucking companies convert to natural gas, which is 40 per cent cheaper than diesel fuel. Fortis has also signed a deal to sell liquefied natural gas to the main electrical utility in Hawaii; this should further cut the project's risk. Fortis remains a hold.

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