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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.

(click to enlarge)

Insider buying during the last 30 days

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

NameTitleTrade DateShares PurchasedCurrent OwnershipIncrease In Shares
Roger Dall'AntoniaSenior OfficerMarch 35212,848 shares+0.4%
Madonna HynesSenior OfficerMarch 384415,138 shares+5.9%
Paige LondonSenior OfficerMarch 36592,862 shares+29.9%
Stanley MarshallCEOMarch 3561469,179 shares+0.1%
Ronald McCabeVPMarch 376878,423 shares+1.0%
Michael MulcahySenior OfficerMarch 318336,302 shares+0.5%
David NorrisDirectorMarch 3434,114 shares+1.1%
Regan O'DeaSenior OfficerMarch 3616750 shares+459.7%
Michael PaveyDirectorMarch 3252,445 shares+1.0%
Barry PerryCFOMarch 33,196132,627 shares+2.5%
Jamie RobertsSenior OfficerMarch 35610,145 shares+0.6%
James SpinneySenior OfficerMarch 395527,299 shares+3.6%
John WalkerSenior OfficerMarch 31,553143,870 shares+1.1%

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.

MonthInsider buying / sharesInsider selling / shares
March 20149,5110
February 201400
January 201400
December 20135,4900
November 201300
October 201300
September 20134,0600
August 201338,00012,000
July 201300
June 20135,1570
May 201300
April 201300
March 20136,8120
February 20131,50012,558
January 201308,150

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

(click to enlarge)

(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.

CompanyFRTSFEMRAFCUPUF
Market Cap:5.88B4.24B304.04M
Qtrly Rev Growth (yoy):0.230.12-0.01
Revenue:4.12B2.17B226.22M
Gross Margin:0.360.35N/A
EBITDA:1.42B715.74M49.80M
Operating Margin:0.210.190.11
Net Income:359.76M268.44M19.49M
EPS:1.662.110.68
P/E:16.6414.1815.50
P/S:1.431.851.34

Fortis has the fastest revenue growth among these three companies.

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

CompanyInsider buying / sharesInsider selling / shares
EMRAF05,900
CUPUF01,600

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.

(click to enlarge)

(Source: Investor presentation)

Source: Fortis: 13 Different Insiders Have Purchased Shares This Month