Fortis

FTS

Fortis Inc. is a St. John's, Newfoundland and Labrador-based international diversified electric utility holding company. It operates in Canada, the United States, Central America, and the Caribbean. In 2015, it earned $6.7 billion CAD.Fortis was formed in 1987, when shareholders of the regulated transmission and distribution utility Newfoundland Light & Power Co. voted to form a separate holding company. NL&P shares were exchanged for Fortis shares on a one-to-one basis, with the regulated NL&P becoming a 100% owned subsidiary. Fortis currently owns the following regulated utilities: FortisBC, a utility in British Columbia FortisAlberta Inc., a holding company for assets purchased from Aquila, Inc. Central Hudson Gas & Electric, a utility in New York Tucson Electric Power and UniSource Energy Services, utilities in Arizona Newfoundland Power, serving 85% of the population of Newfoundland and Labrador Maritime Electric, serving 90% of the population of Prince Edward Island FortisOntario, a holding company for Canadian Niagara Power Company, Cornwall Electric, and Algoma Power Caribbean Utilities, a utility in the Cayman Islands FortisTCI, a utility in the Turks and Caicos Islands Belize Electricity Limited, a utility in Belize ITC Transmission, Novi, MichiganFortis also operates three non-regulated companies: Fortis Generation, hydro generation in New York state and central Newfoundland. Griffith Energy Services, a petroleum supplier in the eastern United States.

Fortis has been a target of short sellers for a while. The current short interest of 2.93% is roughly at the average of the last 12 months (1.95%).