Earnings
November 15, 2018 - PKI
New! Parkland Fuel Corp - Q3-2018 Earnings & Price Target Update .....
November 13, 2018 - SPB
Superior Plus Corp - Q3-2018 Earnings & Price Target Update .....
November 11, 2018 - GEI
Gibson Energy Inc. Q3-2018 Earnings & Price Target Update .....
November 9, 2018 - KEY
Keyera Corp. Q3-2018 Earnings & Price Target Update .....
November 9, 2018 - DR
Medical Facilities Corp. Q3-2018 and Price Target Update .....
November 8, 2018 - FTS
Fortis Inc. Q3-2018 Earnings - Price Target Update .....
November 7, 2018 - BEP.UN
Brookfield Renewable Energy Partners LP - Q3-2018 Earnings Update .....
November 4, 2018 - ENB
Enbridge Inc. Q3-2018 Earnings & Price Target Update .....
Recommendation Changes
ENB, HSE, ALA, TRP, BCE, more...

Fortis Inc. Q3-2018 Earnings - Price Target 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 $50B as of Sept-30-2018 from $29B mainly from the acquisition of ITC Holdings Corp in Nov-2016 and annual capital spending of about $3.5B. 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 3.3M customers across Canada and in the United States and the Caribbean. Approximately 65% of forecast adjusted net income is in US dollars and 30% in Canadian with the balance from Caribbean operations. The $50B 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 30%, 25% and 10% respectively. Dividends are forecast to increase by 6% annually consistent with previous forecasts.

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
November 10, 2018
New! Coverage Universe - Weekly Price Changes Nov 2-11, 2018
November 2, 2018
Coverage Universe - Weekly Price Changes Oct 26-Nov 2, 2018
October 26, 2018
Coverage Universe - Weekly Price Changes Oct 19-26, 2018
October 25, 2018
Royal Bank 4.8% Preferred Share New Issue
October 19, 2018
Coverage Universe - Weekly Price Changes Oct 12-19, 2018
October 12, 2018
Coverage Universe - Weekly Price Changes Oct 5-12, 2018
October 6, 2018
Coverage Universe - Weekly Price Changes Sept 28 - Oct 5, 2018
October 2, 2018
Bank of Nova Scotia - 4.85% 5 yr Rate Reset Preferred Shares New Issue