{"id":38397,"date":"2015-03-03T19:17:00","date_gmt":"2015-03-03T19:17:00","guid":{"rendered":"https:\/\/wp2.inovestor.com\/2015\/03\/fortis-fts\/"},"modified":"2022-07-06T21:18:20","modified_gmt":"2022-07-06T21:18:20","slug":"fortis-fts","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/","title":{"rendered":"Fortis (FTS)"},"content":{"rendered":"<p>\u00a0<\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 10pt; line-height: 115%; font-family: Verdana, sans-serif; color: #222222; background-image: initial; background-attachment: initial; background-size: initial; background-origin: initial; background-clip: initial; background-position: initial; background-repeat: initial;\">In this week\u2019s StockPointer content analysis (see attachment), we take a look at Fortis (FTS), which just released their 3<sup>rd<\/sup> quarter results last Friday. <a href=\"\/wp-content\/uploads\/Content\/EN\/Fortis-EN.pdf\"> <img decoding=\"async\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAABQAAAAYCAYAAAD6S912AAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAJcEhZcwAADsMAAA7DAcdvqGQAAAAadEVYdFNvZnR3YXJlAFBhaW50Lk5FVCB2My41LjEwMPRyoQAAAN5JREFUSEvdlcENwyAMAIn64NkROkSePMoKzJERMgEzZMwoH1DkYhSiJDJgIvXRPk4Cy1xsS1bENE3Q9z2LYRjAOScAIIswxpCPc2itYVkWUoZE4ZYU7mSS9N6fPlyScoQiCZVSse2StEmIefM8wziOWWmzEPPWdRU5KVfYXfOC9E1Jb1WY4lSlTUJ8WMJaCywhwlkA9HCFz0B3ie0cR8KusMT\/CiURi\/x2y9m2SpSEry3pcThXCcJ917\/eMvmgRq1CXLHjLNMdR5DGkM4xLwjlSUgt+h2isOU3WsNaCx9FtNaZP8PEygAAAABJRU5ErkJggg==\" \/> Download <\/a> <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 10pt; line-height: 115%; font-family: Verdana, sans-serif; color: #222222; background-image: initial; background-attachment: initial; background-size: initial; background-origin: initial; background-clip: initial; background-position: initial; background-repeat: initial;\">Besides having improved its accounting performance, Fortis was also able to improve its economic performance. Over the last 12 months, FTS generated its highest return on capital in the last 5 years, while maintaining a low cost of capital.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 10pt; line-height: 115%; font-family: Verdana, sans-serif; color: #222222; background-image: initial; background-attachment: initial; background-size: initial; background-origin: initial; background-clip: initial; background-position: initial; background-repeat: initial;\">Thanks to a TTM NOPAT that has been increasing since September 2012 and well controlled capital charges, Fortis\u2019 TTM EVA just hit a 5-year high.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 10pt; line-height: 115%; font-family: Verdana, sans-serif; color: #222222; background-image: initial; background-attachment: initial; background-size: initial; background-origin: initial; background-clip: initial; background-position: initial; background-repeat: initial;\">As of November 10<sup>th<\/sup>, Fortis\u2019 P\/IV ratio was at 0.93, suggesting the stock was still trading at a discount to its intrinsic value in spite of last month\u2019s rally. For the first time since Q2 2010, FTS is also trading at a discount to its current operating value with an FGV\/EV of -11.5%. This is happening as Fortis completes its acquisition of UNS Energy. The negative FGV indicates that the market might have some doubts on Fortis considering that it just closed its acquisition of UNS Energy.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 In this week\u2019s StockPointer content analysis (see attachment), we take a look at Fortis (FTS), which just released their 3rd quarter results last Friday. Download Besides having improved its accounting performance, Fortis was also able to improve its economic performance. Over the last 12 months, FTS generated its highest return on capital in the [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[186],"class_list":["post-38397","post","type-post","status-publish","format-standard","hentry","category-intelligence","tag-fts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fortis (FTS) - Inovestor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fortis (FTS)\" \/>\n<meta property=\"og:description\" content=\"\u00a0 In this week\u2019s StockPointer content analysis (see attachment), we take a look at Fortis (FTS), which just released their 3rd quarter results last Friday. Download Besides having improved its accounting performance, Fortis was also able to improve its economic performance. Over the last 12 months, FTS generated its highest return on capital in the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/\" \/>\n<meta property=\"og:site_name\" content=\"Inovestor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Inovestor\/\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-03T19:17:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-06T21:18:20+00:00\" \/>\n<meta name=\"author\" content=\"Inovestor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Inovestor_\" \/>\n<meta name=\"twitter:site\" content=\"@Inovestor_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Inovestor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/\"},\"author\":{\"name\":\"Inovestor\",\"@id\":\"https:\/\/www.inovestor.com\/en-ca\/#\/schema\/person\/6616b197e129a7a95f3107103c871092\"},\"headline\":\"Fortis (FTS)\",\"datePublished\":\"2015-03-03T19:17:00+00:00\",\"dateModified\":\"2022-07-06T21:18:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/\"},\"wordCount\":177,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.inovestor.com\/en-ca\/#organization\"},\"keywords\":[\"FTS\"],\"articleSection\":[\"Intelligence\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/\",\"url\":\"https:\/\/www.inovestor.com\/en-ca\/2015\/03\/fortis-fts\/\",\"name\":\"Fortis (FTS) - 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