Is Buying Fortis Inchares (NYSE:FTS), Having Higher Short Interest a Winning Strategy?

The stock of Fortis Inchares (NYSE:FTS) registered an increase of 2.03% in short interest. FTS’s total short interest was 5.02M shares in August as published by FINRA. Its up 2.03% from 4.92 million shares, reported previously. With 385,900 shares average volume, it will take short sellers 13 days to cover their FTS’s short positions.

The stock increased 0.54% or $0.22 during the last trading session, reaching $40.73. About 272,987 shares traded. Fortis Inc. (NYSE:FTS) has risen 21.48% since August 15, 2018 and is uptrending. It has outperformed by 21.48% the S&P500.

Fortis Inc. operates as an electric and gas utility firm in Canada, the United States, and the Caribbean. The company has market cap of $17.92 billion. It generates, transmits, and distributes electricity to approximately 420,000 retail clients in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail clients in ArizonaÂ’s Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts comprising 54 MW of solar capacity. It has a 23.6 P/E ratio. The firm also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 64 MW; and distributes natural gas to approximately 994,000 clients in approximately 135 communities in British Columbia, Canada.

More notable recent Fortis Inc. (NYSE:FTS) news were published by: Seekingalpha.com which released: “Fortis Inc. 2019 Q2 – Results – Earnings Call Slides – Seeking Alpha” on August 02, 2019, also Globenewswire.com with their article: “UPDATE – Newfoundland Power declares dividends on Series A, B, D and G First Preference Shares – GlobeNewswire” published on August 02, 2019, Finance.Yahoo.com published: “Why FTS International, Inc. (NYSE:FTSI) Is An Attractive Investment To Consider – Yahoo Finance” on July 23, 2019. More interesting news about Fortis Inc. (NYSE:FTS) were released by: Fool.ca and their article: “TFSA Investors: 2 Dividend Stocks to Buy and Hold Forever – The Motley Fool Canada” published on July 20, 2019 as well as Fool.ca‘s news article titled: “RRSP Investors: 3 Dividend Stocks to Supplement Your CPP Payments – The Motley Fool Canada” with publication date: July 21, 2019.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.