07:35:20 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Fortis Inc
Symbol FTS
Shares Issued 277,479,512
Close 2015-05-06 C$ 38.78
Market Cap C$ 10,760,655,475
Recent Sedar Documents

Successful Inv says buy Fortis

2015-05-06 20:49 ET - In the News

The Successful Investor, in its May, 2015, issue, says buy Fortis Inc., recently $39. The Investor said buy 18 times from January, 1999, to November, 2014, 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 18 buys, the $18,000 position would now be worth $45,669. Fortis sells electricity in Newfoundland and Prince Edward Island. It also supplies natural gas in British Columbia and operates power plants in other parts of Canada, the United States and the Caribbean. The company plans to spend $9-billion expanding its operations over the next five years; that is equal to 83 per cent of its current market cap. Regulated utilities account for 93 per cent of Fortis's assets, so regulators will let it recover most of these outlays through rate increases. Fortis is considering selling or spinning off its properties division, which comprises commercial real estate and 23 hotels. It expects to make a final decision by June, 2015. These moves should increase Fortis's earnings to $1.99 a share in 2015 from $1.81 a share in 2014. The stock trades at a reasonable 19.6 times the 2015 estimate. The stock remains a buy.

© 2024 Canjex Publishing Ltd. All rights reserved.