Scatec closes sale of 8.5 MW solar power plant in Rwanda

FTS Stock  USD 44.83  0.25  0.56%   
Slightly above 53% of Fortis' investor base is interested to short. The analysis of overall sentiment of trading Fortis Inc stock suggests that many investors are impartial at this time. Fortis' investing sentiment can be driven by a variety of factors including economic data, Fortis' earnings reports, geopolitical events, and overall market trends.
  
Oslo, 1 August 2024 Scatec ASA, a leading renewable energy company in emerging economies, has closed the divestment of its 54 percent equity stake in the 8.5 MW solar power plant in Rwanda to Fortis Green Fund I Rwanda Holdings Ltd and Axian Energy Green Ltd for USD 1.38 million. This announcement follows the notice provided to the market in the fourth quarter of 2023. We continue to deliver on our strategy to consolidate our portfolio through divestment of assets in non-core markets

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Fortis Investor Sentiment by Other News Outlets

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Fortis Fundamental Analysis

We analyze Fortis' financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Fortis using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Fortis based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.

Price To Sales

Price To Sales Comparative Analysis

Fortis is currently under evaluation in price to sales category among its peers. Price to Sales ratio is typically used for valuing equity relative to its own past performance as well as to performance of other companies or market indexes. In most cases, the lower the ratio, the better it is for investors. However, it is advisable for investors to exercise caution when looking at price-to-sales ratios across different industries.

Fortis Inc Potential Pair-trading

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Fortis stock to make a market-neutral strategy. Peer analysis of Fortis could also be used in its relative valuation, which is a method of valuing Fortis by comparing valuation metrics with similar companies.

Peers

Fortis Related Equities

MGEEMGE Energy   1.37   
0%
100.0%
FEFirstEnergy   0.80   
0%
58.0%
PNWPinnacle West   0.77   
0%
56.0%
AEEAmeren Corp   0.75   
0%
54.0%
EIXEdison International   0.71   
0%
51.0%
CNPCenterPoint Energy   0.40   
0%
29.0%
LNTAlliant Energy   0.39   
0%
28.0%
ETREntergy   0.30   
0%
21.0%
EVRGEvergy,   0.25   
0%
18.0%
CMSCMS Energy   0.06   
0%
4.0%
PEGPublic Service   0.33   
24.0%
0%

Additional Tools for Fortis Stock Analysis

When running Fortis' price analysis, check to measure Fortis' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Fortis is operating at the current time. Most of Fortis' value examination focuses on studying past and present price action to predict the probability of Fortis' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fortis' price. Additionally, you may evaluate how the addition of Fortis to your portfolios can decrease your overall portfolio volatility.