Fortis Inc (NYSE:FTS)

$ 41.1 0.07 (0.17%) Market Cap: 20.25 Bil Enterprise Value: 43.65 Bil PE Ratio: 17.95 PB Ratio: 1.35 GF Score: 74/100

Fortis Inc Investor Day Transcript

Sep 10, 2019 / 01:30PM GMT

Release Date Price: $41.95 (-0.31%)

Transcript

Linda H. Blair Apsey

ITC Holdings Corp. - President, CEO

Welcome.

(presentation)

Barry V. Perry

Fortis Inc. - President & CEO

Good morning, everyone. I love that term, the greater grid. That's our new lingo, right, Linda?

So I just want to thank Linda, first of all, for hosting the Fortis team here today for our Investor Day. We announced the ITC transaction back in February of 2016 so about 3.5 years from the announcement day and about 3 years from the closing. And I think that day we were in Toronto. We came here the following day. And we met the employees of ITC that were in this facility in this room, and it was a pretty incredible couple of days. That first day, our stock was off 10%, I believe, given the size of the transaction, and we were using our shares for half the consideration.

I'm happy to report right now that our stock is up a TSR of 70%, 7-0, since that time. So 3.5 years later, if you had come into the stock on that day and kept it and reinvested your dividends, you'd be up 70%, and I think that's pretty

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