Fortis, Inc.

Fortis, Inc.

Fortis, Inc.

Overview
Date Founded

1885

Headquarters

Fortis Place,5 Springdale Street,Suite 1100,St. John's, NF A1B 3T2

Type of Company

Public

Employees (Worldwide)

8,800

Industries

Alternative Energy
Holding Companies
Power & Utilities

Company Description

Fortis, Inc. is an international electric and gas utility holding company. It operates through the following business segments: Regulated Utilities and Non-Regulated. The Regulated Utilities segment comprises of ITC which contains mainly of the electric transmission operations of the ITC regulated operating subsidiaries; UNS Energy that offers vertically integrated utility services; Central Hudson which provides regulated electric and gas T&D utility services; FortisBC Energy that distributes natural gas in British Columbia; FortisAlberta which involves in the ownership and operation of regulated electricity distribution facilities; FortisBC Electric includes the ownership of hydroelectric generating plants, high voltage transmission lines, and a large network of distribution assets; and Other Electric that contains utilities in the eastern Canada and Caribbean. The Non-Regulated segment consists of energy Infrastructure which is primarily comprised of long-term contracted generation assets in British Columbia and Belize, and a gas storage facility in British Columbia; and Corporate & Other that includes expenses and revenue items not specifically related to business operations. The company was founded in 1885 and is headquartered in St. John's, Canada.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Executive Vice President & Chief Financial Officer

Vice President, General Counsel

Executive Vice President & Chief Information Officer

Executive Vice President, Chief Legal Officer & Corporate Secretary

Vice President, Controller

Executive Vice President, Sustainability & Chief Human Resource Officer

Executive Vice President of Eastern Canadian & Caribbean Operations

Executive Vice President, Western Utility Operations

Executive Vice President, Business Development

Board of Directors

Former Chief Executive Officer at Stuart Olson, Inc.

Professional at Major Drilling Group International, Inc.

Former Vice Chairman & Chief Executive Officer at North Shore Gas Company

Professional at Elizabeth Arden, Inc.

Strategy Director-Center for Healthcare Management at University of British Columbia

President & Chief Executive Officer at Fortis, Inc.

Former Chairman & Chief Executive Officer at Tucson Electric Power Co., Inc.

Professional at Fortis, Inc.

Professional at Fortis, Inc.

Professional at Fortis, Inc.

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Fortis, Inc.
Owners & Shareholders
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BMO seeks to achieve consistent, above average returns through a risk-controlled approach to asset management. The firm attempts to reduce risk through the use of different asset classes, diversification and intensive individual security analysis. Their equity investment approach focuses on investments in companies with the potential to create long-term wealth. Though not limited by sector, the firm tends to invest in the stocks of companies in the finance, energy minerals, non-energy minerals and industrial services sectors. BMO's fixed-income investment approach seeks capital preservation and returns commensurate with a given level of risk.

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1832 AM's investment approach is based on the belief that the market is inefficient. The firm employs a research-driven, bottom-up stock selection approach with a forward-looking view of the global economy. They carefully screen thousands of businesses in a search for those that demonstrate strong fundamentals characterized by financial strength, experienced management, product quality, market access and are mispriced in the capital markets. The firm invests in bonds to provide a stable stream of income, to reduce portfolio volatility and to help preserve capital by stabilizing returns during periods of weakness in the equity markets. 1832 AM takes a disciplined investment approach in order to add positive incremental gains over time.

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FCAM's investment approach is based the belief that in-depth fundamental analysis of companies can identify securities that may outperform the market. The firm's global research resources include seasoned, sector-focused fundamental analysts covering industry sectors across Canadian, US and global markets, as well as quantitative and technical portfolio managers and analysts. FCAM offers a wide variety of investment solutions including: Canadian, US and International/Global equity strategies; Diversified, Active/Single Sector, and Custom (Liability-Driven and Tactical Bond) fixed-income strategies; and Multi-Asset Class Asset Allocation Products including Strategic Balanced, Tactical Asset Allocation and Balanced Trust Services.

Recent Transactions
Details Hidden

Fortis, Inc. purchases ITC Holdings Corp.

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GIC Pte Ltd. purchases ITC Holdings Corp. from Fortis, Inc.

Details Hidden

Tucson Electric Power Co., Inc., Fortis, Inc. purchase Unit 1 Springerville Generating Station

Transaction Advisors
Underwriter

Advised onFortis, Inc. issued Subscription Receipts

Underwriter

Advised onFortis, Inc. issued Subscription Receipts

Auditor

Advised onFortis, Inc. issued Subscription Receipts

Legal Advisor

Advised onFortis, Inc. purchases ITC Holdings Corp.

Legal Advisor

Advised onFortis, Inc. purchases ITC Holdings Corp.

Legal Advisor

Advised onFortis, Inc. purchases ITC Holdings Corp.

Advisors & Consultants
Advisor

Member at Golden Angels Investors LLC

Legal Advisor

Partner at Davies Ward Phillips & Vineberg LLP

Legal Advisor

Partner at White & Case LLP

Clients

Kinder Morgan, Inc. is an energy infrastructure company. It engages in the operation of pipelines and terminals that transport natural gas; gasoline; crude oil; carbon dioxide (CO2) and other products and stores petroleum products chemicals; and handles bulk materials like ethanol, coal, petroleum coke and steel. The firm operates through the following segments: Natural Gas Pipelines, CO2, Terminals, Product Pipelines and Kinder Morgan Canada. The Natural Gas Pipelines segment engages in the ownership and operation of major interstate and intrastate natural gas pipeline & storage systems, and natural gas & crude oil gathering systems and natural gas processing & treating facilities. The CO2 segment is focused on the production, transportation and marketing of CO2 to oil fields that use CO2 as a flooding medium for recovering crude oil from mature oil fields to increase production. The Terminals segment engages in the ownership and operation of liquids and bulk terminal facilities located throughout the U.S. and portions of Canada that transload and store refined petroleum products, crude oil, chemicals, ethanol & bulk products, including coal, petroleum coke, fertilizer, steel and ores. The Products Pipelines segment owns and operates refined petroleum products, NGL and crude oil and condensate pipelines that primarily deliver, among other products, gasoline, diesel & jet fuel, propane, crude oil and condensate to various markets. The Kinder Morgan Canada segment is focused on the operation of the Trans Mountain pipeline system that transports crude oil and refined petroleum products from Edmonton, Alberta, Canada for marketing terminals and refineries in British Columbia, Canada and the state of Washington. The company was founded by Richard D. Kinder and William V. Morgan on August 23, 2006 and is headquartered in Houston, TX.

Freeport-McMoRan, Inc. engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations. The North America Copper Mines segment operates open-pit copper mines in Morenci, Bagdad, Safford, Sierrita and Miami in Arizona; and Chino and Tyrone in New Mexico. The South America Mining segment includes Cerro Verde in Peru and El Abra in Chile. The Indonesia Mining segment handles the operations of Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. The Molybdenum Mines segment includes the Henderson underground mine and Climax open-pit mine, both in Colorado. The Rod and Refining segment consists of copper conversion facilities located in North America, and includes a refinery, rod mills, and a specialty copper products facility. The Atlantic Copper Smelting and Refining segment smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Corporate, Other, and Eliminations segment consists of other mining and eliminations, oil and gas operations, and other corporate and elimination items. The company was founded by James R. Moffett on November 10, 1987 and is headquartered in Phoenix, AZ.

Energy Transfer is a Texas-based company that began in 1995 as a small intrastate natural gas pipeline operator and is now one of the largest and most diversified investment grade master limited partnerships in the United States. Growing from roughly 200 miles of natural gas pipelines in 2002 to approximately 69,000 miles of natural gas, natural gas liquids (NGLs), refined products, and crude oil pipelines today, the Energy Transfer family of partnerships remains dedicated to providing exceptional service to its customers and attractive returns to its investors. Through several recent transformative transactions, we have expanded our scope of services and increased our focus on the transportation of heavier hydrocarbons. While we remain committed to the prolific natural gas industry, we enhanced our diversified portfolio of assets by making a strategic entrance into the NGL business through the acquisition of Louis Dreyfus’ NGL storage, fractionation and transportation operations in 2011. In 2012, we acquired Southern Union Company, a leading diversified natural gas company, which expanded our national footprint and added more than 20,000 miles of gathering and transportation pipelines to our portfolio. More recently, we made a strong entrance into the crude oil and refined products business by acquiring Sunoco, Inc., including its interest in Sunoco Logistics Partners L.P. (SXL). These acquisitions, together with our already robust asset base, have enabled Energy Transfer to become a premier provider of services to producers and consumers of natural gas, NGLs, crude oil, and refined products. To improve operating efficiencies within the Energy Transfer family, in October 2012 we formed ETP Holdco Corporation, which is owned 60% by ETE and 40% by ETP and controlled through a majority board membership by ETP. ETP Holdco owns a 100% equity interest in Southern Union Company and Sunoco, Inc. (excluding SXL)

Key Stats and Financials As of 2018
Market Capitalization
$21.4B
Total Enterprise Value
$47.4B
Earnings Per Share
$2.59
Revenue
$8.39B
Net Profit
$1.17B
EBITDA
$3.61B
EBITDAMargin
43%
Total Debt
$24.8B
Total Equity
$18.5B
Enterprise Value Sales
5.64x
Enterprise Value EBITDAOperating
13.12x
TEVNet Income
40.61x
Debt TEV
0.52x
Three Year Compounded Annual Growth Rate Of Revenue
7.64%
Five Year Compounded Annual Growth Rate Of Revenue
15.7%
Political Donations
Investments
Details Hidden

Express Pipeline Ltd. operated crude petroleum pipelines. The company is headquartered in Calgary, Canada.

Suppliers
Lime Energy Co. Other Consumer Durables | Huntersville, NC

Lime Energy Co. engages in the provision of utilities with customer relationship services. It provides energy efficiency for small business customers and designs and implements direct install programs for its utility clients. It engages in energy efficiency services which include program design, program management, marketing and customer recruitment, auditing and installation of energy conservation measures for small business customers of utilities or public utility commissions. The company was founded on December 5, 1997 and is headquartered in Newark, NJ.

Union Gas Limited Power & Utilities | Chatham, ON

Union Gas Ltd. engages in the storage, transmission, and distribution of natural gas. It provides natural energy gas delivery and related services to residential, commercial, and industrial customers. The company was founded by Denis A. Coste and Eugene M. Coste on December 19, 1911 and is headquartered in Chatham, Canada.

Clearway Energy, Inc. Appliances & Electronics | Princeton, NJ

Clearway Energy, Inc. operates as a dividend growth-oriented company. It owns a portfolio of contracted renewable and conventional generation and thermal infrastructure assets. The firm also owns thermal infrastructure assets, which provide steam, hot and chilled water, as well as in some instances electricity to commercial businesses, universities, hospitals and governmental units. NRG Yield operates through the following segments: Conventional Generation, Thermal, Renewable and Corporate. The company was founded on December 20, 2012 and is headquartered in Princeton, NJ.

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