Community Financial Services Group LLC Has $273,000 Stock Holdings in Fortis Inc. (NYSE:FTS)

Community Financial Services Group LLC trimmed its position in Fortis Inc. (NYSE:FTS) by 56.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,570 shares of the utilities provider’s stock after selling 8,458 shares during the period. Community Financial Services Group LLC’s holdings in Fortis were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Fortis by 34.1% in the 4th quarter. Versant Capital Management Inc now owns 1,006 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 256 shares during the period. JCIC Asset Management Inc. lifted its stake in shares of Fortis by 5.5% in the fourth quarter. JCIC Asset Management Inc. now owns 5,087 shares of the utilities provider’s stock valued at $211,000 after buying an additional 267 shares during the period. Code Waechter LLC grew its position in Fortis by 1.5% during the fourth quarter. Code Waechter LLC now owns 18,708 shares of the utilities provider’s stock worth $778,000 after buying an additional 277 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in Fortis by 0.5% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 89,681 shares of the utilities provider’s stock valued at $3,728,000 after acquiring an additional 447 shares during the period. Finally, Blue Trust Inc. raised its holdings in Fortis by 724.3% in the 4th quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 507 shares in the last quarter. 57.77% of the stock is owned by institutional investors.

Fortis Stock Performance

NYSE FTS opened at $43.89 on Wednesday. The stock has a market cap of $21.91 billion, a P/E ratio of 18.44, a PEG ratio of 3.94 and a beta of 0.50. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 1.32. Fortis Inc. has a twelve month low of $36.86 and a twelve month high of $46.06. The company’s 50-day simple moving average is $42.35 and its 200 day simple moving average is $43.46.

Fortis Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, February 18th will be issued a $0.4382 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.99%. Fortis’s payout ratio is presently 79.41%.

Analyst Upgrades and Downgrades

Separately, Raymond James cut Fortis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th.

Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.