FTS

Key Takeaways

• Fortis is a regulated North American electric and gas utility, and its growth is mechanical: a $28.8 billion five-year capital plan is set to lift its rate base from $42.4 billion to $57.9 billion by 2030, roughly 7% annual growth [Source: Q1 2026 results, May 2026]. • The biggest risk is the heavy debt that funds a utility: net debt sits around $24.6 billion with interest coverage near 2.4 times, so higher-for-longer interest rates raise borrowing costs faster than regulators reset allowed re

Institutional ownership

331 institutional managers reported holding FTS in 13F filings for the quarter ended 2026-03-31. Together they hold about 50% of the company; the top 10 hold 32%. 48 opened new positions that quarter. Held by Vanguard Group, Geode Capital, Goldman Sachs, among others. On the short side, 9.3M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (11.2 days of typical volume to cover).

Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.

Capital returns

FTS's share count grew 6.9% over the past five years. It pays a dividend, and has paid one every year in our records (11 and counting), raised 4 years straight; the current rate is $1.85 a share annually. Cash returned over the past three years: $2.19B in dividends.

Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.

Insider activity

Open-market insider buys at FTS over the trailing three years: 2026: 1 buy totaling $45k. 1 officers and directors are on file.

Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.

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