FORTIS INC. $34(Toronto symbol FTS; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 215.4 million; Market cap: $7.3 billion; Price-to-sales ratio: 1.6; Dividend yield: 3.8%; TSINetwork Rating: Above Average; www.fortis.ca) is expanding its Tilbury Island liquefied natural gas (LNG) facility in Delta, B.C.
The company is spending $400 million on this project, which is equal to 1.1 times its 2013 earnings of $353 million, or $1.74 a share.
This expansion will help the company meet rising demand as trucking companies convert to natural gas, which is up to 40% cheaper than diesel fuel. Fortis has also signed an agreement to sell LNG to Hawaii’s main electrical utility, which further cuts this project’s risk. Fortis is a hold.
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Privacy Policy and Terms of Use
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The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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