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.
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.