Earnings
April 25, 2018 - RUS
New! Russel Metals Inc. Price Target Update .....
April 24, 2018 - OSB
New! Norbord Inc. - 2017 Earnings & 2018 Price Target Update .....
April 21, 2018 - BNS
Bank of Nova Scotia - Fiscal Q1-2018 Earnings Update .....
April 20, 2018 - CM
Canadian Imperial Bank of Commerce -Fiscal 2018 Earnings Update .....
April 19, 2018 - BMO
Bank of Montreal - Fiscal Q1-2018 Earnings Update .....
April 18, 2018 - TD
Toronto-Dominion Bank, Fiscal Q1-2018 Earnings Update .....
April 17, 2018 - RY
Royal Bank - Fiscal Q1-2018 Earnings Update .....
April 15, 2018 - PZA
Pizza Pizza Royalty Corp. 2017 Earnings & Price Target Update .....
Recommendation Changes
PZA, DRG.UN, MIC(US), VET, BRE, more...

Fortis Inc. Earnings Update

This is only a sample of the article, please login to view the entire article

Fortis is a North American electric and gas utility business, operating in five Canadian provinces, nine U.S. states and three Caribbean countries. Total assets have increased to $47B from $29B following the acquisition of ITC Holdings Corp in Nov-2016. Approximately 90% of revenues are from rate regulated natural gas and electric utilities with the remaining 10% comprised of long-term contracted hydroelectric generation operations. The regulated utilities serve more than 3M customers across Canada and in the United States and the Caribbean. Approximately 60% of AFFO is in US dollars and 35% in Canadian with the balance from Caribbean operations. The $47B in assets includes the $11.8B(US) acquisition in Nov-2016 of ITC, the largest independent owner of transmission lines in the US. ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma. The largest business segments are ITC, UNS and Fortis(Alberta) contributing 29%, 26% and 10% respectively. The capital budget for 2017 is $3.1B and $13B for the next 3 years. Dividends are forecast to increase by 6% annually.

Business Segments

The regulated electric utilities in Canada are comprised of FortisAlberta, FortisBC Electric, and Eastern Canadian Electric Utilities (Newfoundland Power, Maritime Electric and FortisOntario). The Canadian regulated Gas Utility companies include Fortis distribution utilities serving Victoria, the Okanagan and Whistler, BC. FortisOntario mainly includes Canadian Niagara Power Inc., Cornwall Street Railway, Light and Power Company, Limited and Algoma Power Inc. Regulated Electric Utilities in the Caribbean are comprised of Caribbean Utilities, in which Fortis holds a 60% controlling interest, and two wholly owned utilities in the Turks and Caicos Islands, FortisTCI Limited and Turks and Caicos Utilities Limited. Fortis Generation includes the financial non-regulated generation assets in Belize, British Columbia, Upstate New York and Ontario.

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
April 20, 2018
New! Coverage Universe - Weekly Price Changes Apr 13-20, 2018
April 13, 2018
Coverage Universe - Weekly Price Changes Apr 6 - Mar 13, 2018
April 6, 2018
Coverage Universe - Weekly Price Changes Mar 30-Apr 6, 2018
March 30, 2018
Coverage Universe - Weekly Price Changes Mar 23-30, 2018
March 26, 2018
Extendicare Inc. - New Convertible Debenture
March 23, 2018
Coverage Universe - Weekly Price Changes Mar 16-23, 2018
March 17, 2018
Coverage Universe - Weekly Price Changes Mar 9-16, 2018
March 15, 2018
Premium Brands Holdings Corporation - New Convertible Debenture