Fortis: 13 Different Insiders Have Purchased Shares This Month

| About: Fortis Inc. (FRTSF)

Summary

13 insiders purchased the stock within one month.

The stock was sold by no insiders in the month of intensive purchasing.

Two of these 13 insiders increased their holdings by more than 10%.

Fortis (OTCPK:FRTSF) operates as an electricity and natural gas distribution utility in Canada.

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Insider buying during the last 30 days

Here is a table of Fortis' insider activity during the last 30 days.

Name Title Trade Date Shares Purchased Current Ownership Increase In Shares
Roger Dall'Antonia Senior Officer March 3 52 12,848 shares +0.4%
Madonna Hynes Senior Officer March 3 844 15,138 shares +5.9%
Paige London Senior Officer March 3 659 2,862 shares +29.9%
Stanley Marshall CEO March 3 561 469,179 shares +0.1%
Ronald McCabe VP March 3 768 78,423 shares +1.0%
Michael Mulcahy Senior Officer March 3 183 36,302 shares +0.5%
David Norris Director March 3 43 4,114 shares +1.1%
Regan O'Dea Senior Officer March 3 616 750 shares +459.7%
Michael Pavey Director March 3 25 2,445 shares +1.0%
Barry Perry CFO March 3 3,196 132,627 shares +2.5%
Jamie Roberts Senior Officer March 3 56 10,145 shares +0.6%
James Spinney Senior Officer March 3 955 27,299 shares +3.6%
John Walker Senior Officer March 3 1,553 143,870 shares +1.1%
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There have been 9,511 shares purchased by insiders during the last 30 days. All these shares were purchased pursuant to an ownership plan.

Insider buying by calendar month

Here is a table of Fortis' insider activity by calendar month.

Month Insider buying / shares Insider selling / shares
March 2014 9,511 0
February 2014 0 0
January 2014 0 0
December 2013 5,490 0
November 2013 0 0
October 2013 0 0
September 2013 4,060 0
August 2013 38,000 12,000
July 2013 0 0
June 2013 5,157 0
May 2013 0 0
April 2013 0 0
March 2013 6,812 0
February 2013 1,500 12,558
January 2013 0 8,150
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There have been 70,530 shares purchased, and there have been 32,708 shares sold by insiders since January 2013.

Financials

Fortis reported the full-year 2013 financial results on February 6 with the following highlights:

Revenue $4.0 billion
Net income $353 million
Net debt $7.6 billion
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(Source: Investor presentation)

The 13 insiders purchased their shares after this report.

Competition

Fortis' competitors include Emera (OTCPK:EMRAF), and Caribbean Utilities (OTC:CUPUF). Here is a table comparing these companies.

Company FRTSF EMRAF CUPUF
Market Cap: 5.88B 4.24B 304.04M
Qtrly Rev Growth (yoy): 0.23 0.12 -0.01
Revenue: 4.12B 2.17B 226.22M
Gross Margin: 0.36 0.35 N/A
EBITDA: 1.42B 715.74M 49.80M
Operating Margin: 0.21 0.19 0.11
Net Income: 359.76M 268.44M 19.49M
EPS: 1.66 2.11 0.68
P/E: 16.64 14.18 15.50
P/S: 1.43 1.85 1.34
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Fortis has the fastest revenue growth among these three companies.

Here is a table of these competitors' insider activities this year.

Company Insider buying / shares Insider selling / shares
EMRAF 0 5,900
CUPUF 0 1,600
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Only Fortis has seen intensive insider buying during the last 30 days.

Conclusion

There have been 13 different insiders buying Fortis, and there have not been any insiders selling Fortis during the last 30 days. Two of these 13 insiders increased their holdings by more than 10%.

The insiders purchased their shares at prices ranging from $27.06 (C$30.04) to $27.63 (C$30.67). I believe Fortis could be a good pick below $28 based on the intensive insider buying.

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(Source: Investor presentation)

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in FRTSF over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.