Friday, June 12, 2015

Recent Purchase

Over the Past Few months I have analyzed many stocks and decided it was time to pull the trigger after a slight pullback. I initiated a position in Fortis Inc. Fts is deffinantly not the cheapest company out there with P/E over 20, but I believe the company has room to grow and its forward earnings P/E is around 16.7 a much better number. Either way Fortis has increased its diviend every year for the past 40 and this is a long term position for myself to collect the diviend and watch the money roll in.

Company Overview:

Fortis Inc. is an electric and gas utility company. The Company’s regulated utilities account for approximately 90% of total assets. The Company owns non-regulated hydroelectric generation assets in Canada, Belize and New York. The Company’s non-utility investment is comprised of hotels and commercial real estate in Canada. The Company also holds investments in non-regulated generation and non-utility assets. Its investments in non-regulated assets provide financial, tax and regulatory flexibility and enhance shareholder return. The Company owns and operates 23 hotels in eight Canadian provinces, and owns and operates approximately 2.7 million square feet of commercial office and retail space, primarily in Atlantic Canada

I bought 155 shares of Fortis priced at $35.71 bringing my total cost after broker fees to $5560.04. With a hefty dividend yield of 3.79%, and being a dividend aristocrat I feel as though this company will have no problem continuing the trend.

 With this purchase of FTS I will receive a yearly income of $210.80 from there dividend alone.


  1. Thanks for sharing your recent buy with us. You don't read many buys in the utility sector among the dividend bloggers because of a slow growth rate. Still, seems like a solid long term play to build a portfolio around. I like many of the Canadian banks and have been buying TD, BNS and RY for the last year. Looking at POT now as well. Look forward to your next updates. Unless things change a bit I may make my next buys in the REIT space again.

  2. Hey DivHut, thanks for stopping by, I have been looking at the Canadian Banks as well, maybe ill do an analysis and start a position with one of them soon!