Fortis, Inc.

Fortis, Inc.

Fortis, Inc.

Overview
Date Founded

1887

Headquarters

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

Type of Company

Public

Employees (Worldwide)

9,000

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 1887 and is headquartered in St. John's, Canada.

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Executives & Employees

President & Chief Executive Officer

Executive Vice President & Chief Financial Officer

Vice President, General Counsel

Executive Vice President, Business Development & Chief Technology Officer

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, Eastern Canadian & Caribbean Operations

Vice President, Communications & Corporate Affairs

Board of Directors

Former President & Chief Executive Officer at Pembina NGL Corp.

Former Chief Executive Officer at Manitoba Telecom Services, Inc.

President at Stonebridge Capital, Inc. (Newfoundland)

Former President, Operating Unit at Direct Energy Marketing Ltd.

Former Chairman & Chief Executive Officer at Wisconsin Public Service Corp.

President & Chief Executive Officer at Fortis, Inc.

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

Former Chief Financial Officer & Executive Vice President at Canadian Western Bank

Former Chief Financial Officer & Vice President at Astrolink International LLC

Former President at TeleCorp PCS, Inc.

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Fortis, Inc.
Owners & Shareholders
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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. 1832 AM 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. They take a disciplined investment approach in order to add positive incremental gains over time.

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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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RBC Dominion Securities-IM offers clients access to Canadian, US and international equities, Canadian fixed-income investments, various mutual funds from leading fund companies worldwide and commodity/financial futures. The firm’s equity research department covers companies in select sectors, including: biotechnology and healthcare, communications and media, consumer and diversified products, energy, financial institutions, forest products, mining and resources, real estate, technology and utilities and infrastructure.

Recent Transactions
Details Hidden

Fortis, Inc. issued CAD Common Shares - Bought Deal

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Fortis, Inc., ITC Midwest LLC purchase Jo-Carroll Energy, Inc. /Electric Transmission Assets from Jo-Carroll Energy, Inc.

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Fortis, Inc. purchases ITC Holdings Corp.

Transaction Advisors
Underwriter

Advised onFortis, Inc. issued CAD Subscription Receipts

Underwriter

Advised onFortis, Inc. issued CAD Subscription Receipts

Underwriter

Advised onFortis, Inc. issued CAD Subscription Receipts

Legal Advisor

Advised onFortis, Inc. purchases ITC Holdings Corp.

Legal Advisor

Advised onFortis, Inc. purchases ITC Holdings Corp.

Manager

Advised onFortis, Inc. issued CAD Subscription Receipts

Advisors & Consultants
Advisor

Member at Golden Angels Investors LLC

Legal Advisor

Partner, New York at White & Case LLP

Legal Advisor

Partner at White & Case LLP

Clients

Kinder Morgan, Inc. is an energy infrastructure company, which 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 and storage systems, natural gas and crude oil gathering systems, and natural gas processing and treating facilities. The CO2 segment focuses 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 consists of 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 and 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 and jet fuel, propane, crude oil, and condensate to various markets. The Kinder Morgan Canada segment operates 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 in February 1997 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.

Exelon Corp. operates as a utility services holding company, which engages in the energy generation, power marketing, and energy delivery business. It operates through the following segments: Mid Atlantic, Midwest, New York, Electric Reliability Council of Texas (ERCOT) and other Power Regions. The Mid-Atlantic segment represents operations in the eastern half of PJM, which includes New Jersey, Maryland, Virginia, West Virginia, Delaware, the District of Columbia and parts of Pennsylvania and North Carolina. The Midwest segment operates in the western half of PJM, which includes portions of Illinois, Pennsylvania, Indiana, Ohio, Michigan, Kentucky and Tennessee, and the United States footprint of MISO, excluding MISO's Southern Region, which covers all or most of North Dakota, South Dakota, Nebraska, Minnesota, Iowa, Wisconsin, the remaining parts of Illinois, Indiana, Michigan and Ohio not covered by PJM, and parts of Montana, Missouri and Kentucky. The New York (NY) segment provides operations within ISO–NY, which covers the state of New York in its entirety. The ERCOT segment includes operations within Electric Reliability Council of Texas, covering most of the state of Texas. The Other Power Regions consists of the operations in New England, South, West, and Canada. The company was founded in February 1999 and is headquartered in Chicago, IL.

Key Stats and Financials As of 2019
Market Capitalization
$18.7B
Total Enterprise Value
$36.3B
Earnings Per Share
$2.77
EBITDAMargin
43.49%
Enterprise Value / Sales
5.64x
Enterprise Value EBITDAOperating
12.96x
TEVNet Income
28.82x
Debt TEV
0.47x
Three Year Compounded Annual Growth Rate Of Revenue
8.77%
Revenue
$6.44B
Net Profit
$1.26B
EBITDA
$2.8B
Total Debt
$17B
Total Equity
$14.7B
Political Donations
Investments
Details Hidden

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

Suppliers
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Lime Energy Co. engages in the provision of utilities with customer relationship services. The firm 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.

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

Clearway Energy, Inc. engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It 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.

Capital Power Corp. Power & Utilities | Edmonton, Canada

Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns more than 3,600 megawatts of power generation capacity at 15 facilities* across North America. An additional 595 megawatts of owned generation (including the Shepard Energy Centre) is under construction or in advanced development

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