Earnings
July 22, 2018 - PWF
New! Power Financial Corporation- Q1-2018 Earnings and Price Target .....
July 21, 2018 - POW
New! Power Corporation of Canada Q1-2018 Earnings and Price Target .....
July 19, 2018 - GWO
Great-West Lifeco Inc. Q1-2018 Earnings & Price Target .....
July 18, 2018 - SLF
Sun Life Financial Inc. Q1-2018 Earings & Price Target .....
July 17, 2018 - MFC
Manulife Financial Corp. Q1-2018 Earnings Update .....
July 15, 2018 - MRG.UN
Morguard North American Residential REIT. Q1-2018 Earnings Update .....
July 14, 2018 - MRT.UN
Morguard REIT Q1-2018 Earnings Update .....
July 13, 2018 - AGF.B
AGF Management Ltd - Q2-2018 Earnings & Price Target Update .....
Recommendation Changes
T, ACR.UN, CUF.UN, BLX, EMA, 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
July 20, 2018
New! Coverage Universe - Weekly Price Changes July 13-20, 2018
July 13, 2018
Coverage Universe - Weekly Price Changes July 6-13, 2018
July 9, 2018
Atrium Mortgage Investment Corp. 5.5% Convertible Debentures New Issue
July 6, 2018
Coverage Universe - Weekly Price Changes June 29-July 6, 2018
June 29, 2018
Coverage Universe - Weekly Price Changes June 22-29, 2018
June 23, 2018
Coverage Universe - Weekly Price Changes June 15-22, 2018
June 15, 2018
Coverage Universe - Weekly Price Changes June 8-15, 2018
June 13, 2018
Firm Capital Mortgage Investment Trust - New Convertible Debenture