15:02:14 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Fortis Inc
Symbol FTS
Shares Issued 276,130,213
Close 2015-02-13 C$ 39.32
Market Cap C$ 10,857,439,975
Recent Sedar Documents

Inv Reporter says buy Fortis

2015-02-13 19:45 ET - In the News

The Investment Reporter, in its Feb. 6, 2015, issue, says buy Fortis Inc., recently $40.78. The Reporter said buy 27 times from Oct. 15, 1995, to July 26, 2013, at prices ranging from $22.89 to $70.68 (the stock split 4 for 1 on Oct. 12, 2005). Assuming an investment of $1,000 for each of the 27 buys, the $27,000 position would now be worth $77,074. Fortis is an electric and gas utility, but it also has a hotel and commercial real estate business operating under Fortis Properties Corp. It owns and operates 23 hotels, representing over 4,400 rooms in eight Canadian provinces. The company's hotel brands include Delta, Sheraton, Hilton, Holiday Inn, Ramada and Best Western. Fortis Properties owns 2.8 million square feet of commercial and retail real estate, mainly in Atlantic Canada. In 2013, Fortis Properties generated a profit of $80-million on revenues of $250-million. Even so, the company's hotel and real estate assets represent just 3 per cent of its total assets. The newsletter thinks Fortis can reinvest in its core business, which is utilities. The stock is a buy for gains and dividends that have risen for 42 consecutive years.

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