Exploring Fortis Inc. (FTS) Investor Profile: Who’s Buying and Why?

You're looking at Fortis Inc. (FTS) because its stability in a volatile market is hard to ignore, and you want to know who else is quietly building a position-and why they're doing it right now. The answer is simple: the big money is doubling down on predictable, regulated growth, with institutional investors holding over 54% of the company's shares as of late 2025. Why the conviction? Fortis is executing on a massive capital plan, expecting to deploy $5.6 billion in capital investments for the 2025 fiscal year alone, which directly grows its rate base and future earnings. This low-risk, regulated utility model is what allows the company to consistently increase its dividend, most recently boosting the quarterly payout by 4.1% to $0.64 per share, extending its dividend growth guidance of 4-6% annually all the way through 2030. So, are the world's largest asset managers, like The Vanguard Group, Inc., who hold a significant stake, seeing a safe harbor, or are they seeing a defintely undervalued growth story?

Who Invests in Fortis Inc. (FTS) and Why?

The investor base for Fortis Inc. is a classic utility story: it's dominated by large institutions and income-focused retail investors. The direct takeaway is that 54% of the company is held by institutional owners, primarily seeking stable, regulated growth and a reliable, increasing dividend, while the remaining 46% is largely in the hands of individual investors looking for defensive income.

Honestly, you won't find many short-term traders here. This is a bedrock holding for portfolios, a place where capital goes for safety and predictable returns, not for a quick flip. The fact that hedge funds don't hold a meaningful investment in Fortis tells you everything you need to know about its low-volatility profile.

Key Investor Types: The Institutional and Retail Split

The ownership structure of Fortis Inc. (FTS) is split almost evenly, but the institutional money holds the majority and, therefore, the greatest influence. As of the third quarter of 2025, institutional investors own approximately 54% of the shares outstanding. This group includes the behemoths of the financial world, such as Royal Bank of Canada, Vanguard Group Inc., Bank of Montreal, and FIL Ltd.

These institutions are typically running large pension funds, mutual funds, or exchange-traded funds (ETFs) that require stable, long-duration assets to meet their own liabilities. They are not looking for a 10x return; they need a reliable, low-beta anchor for their portfolios. The general public, or retail investors, hold the other significant portion, around 46%. For individual investors, Fortis is often a core retirement holding, valued for its defensive nature during economic downturns.

• Institutional Investors: 54% ownership; focused on stability and long-term asset matching.
• Retail Investors: 46% ownership; seeking defensive income and portfolio ballast.
• Hedge Funds: Minimal investment; low-risk profile deters short-term, high-volatility strategies.

Investment Motivations: The Power of Dividends and Rate Base Growth

The primary attraction to Fortis Inc. is a rare combination of dividend reliability and visible, regulated growth. Let's look at the numbers for the 2025 fiscal year. The company is a Dividend Aristocrat, having increased its dividend for an exceptional 52 consecutive years. That's a track record that few companies, even in the utility sector, can match.

The annualized dividend payout, following the November 2025 increase, is approximately $2.56 CAD per share, resulting in a current yield of about 3.5%. Plus, they've extended their dividend growth guidance, targeting an annual increase of 4-6% through 2030, which is a clear signal to income investors. Here's the quick math: a 5% annual dividend increase means your dividend income doubles roughly every 14 years, offering a great hedge against inflation.

But it's not just about the dividend; it's about the growth engine funding it. Fortis is executing a substantial $28.8 billion five-year capital plan (2026-2030). This investment is expected to grow the midyear regulated asset base (rate base) from $41.9 billion CAD in 2025 to $57.9 billion CAD by 2030, a compound annual growth rate of 7.0%. This regulated growth is essentially guaranteed earnings, which is why the stock commands a premium. If you want to dive deeper into the company's long-term vision, you should check out the Mission Statement, Vision, & Core Values of Fortis Inc. (FTS).

Investment Strategies: Long-Term Income and Value

The strategies employed by Fortis shareholders are overwhelmingly focused on the long-term. Institutional investors, especially those managing passive index funds or large retirement portfolios, use FTS as a core long-term holding because of its low-risk, fully regulated business model. They are buying the utility's predictable cash flow, which is largely insulated from broader economic cycles.

The most common strategy is dividend growth investing. Investors buy Fortis shares and simply hold them, reinvesting the dividends (often through a Dividend Reinvestment Plan, or DRIP) to compound their returns over decades. The company's stable revenue from its regulated assets across North America defintely supports this strategy.

You also see value investing principles at play. While the stock may trade at a higher price-to-earnings (P/E) ratio than some peers due to its premium quality, investors often view the stock as undervalued relative to the certainty of its future cash flows and the tangible, regulated asset base that is growing at 7.0% annually. Short-term trading is not a viable strategy here; the returns are generated over years, not quarters.

Institutional Ownership and Major Shareholders of Fortis Inc. (FTS)

You're looking at Fortis Inc. (FTS), a regulated utility, and you need to know who the big money is betting on this stock. The direct takeaway is that institutional investors-the mutual funds, pension funds, and asset managers-own the majority of the company, giving them significant sway, but no single entity dominates. This is a good thing for stability.

As of late 2025, institutions own a substantial portion of Fortis, holding between 54% and 57.77% of the company's stock. This high level of institutional ownership is typical for a stable, dividend-paying utility, which provides the kind of predictable, long-term cash flow these large funds need. Honestly, it signals a strong vote of confidence in Fortis's operational stability and its ability to deliver consistent services over extended periods.

Top Institutional Investors and Their Holdings

The institutional ownership base for Fortis Inc. is quite dispersed, meaning no one fund can unilaterally dictate strategy. Even the largest shareholders only hold a small percentage of the total shares outstanding. This dispersed structure promotes a balanced approach to governance and corporate decision-making.

Here's a quick look at the largest institutional holders as of September 30, 2025, based on their percentage of shares outstanding:

The Vanguard Group, Inc., BMO Asset Management Corp., and Fidelity International Ltd are consistently at the top of the list, collectively holding a significant chunk of the company. You can see a similar pattern in the US-listed shares (NYSE: FTS), where Royal Bank Of Canada, Bank Of Montreal, and Vanguard Group Inc. are also among the largest holders.

Recent Shifts in Institutional Ownership

The near-term ownership changes show a mixed bag, which is normal as large funds rebalance their portfolios, but the net change for the most recent quarter indicates a slight pullback. Overall, institutional shares (Long) saw a modest decrease of -3.64% in the most recent reporting quarter. Still, this doesn't signal a mass exodus, just portfolio adjustments.

For example, in the second quarter of 2025, some funds were reducing their exposure. Greenland Capital Management LP, for instance, trimmed its holdings by a significant 61.1%, selling 130,505 shares. But, at the same time, other institutions were buying in. Cerity Partners LLC boosted its holdings by 13.9% in the first quarter of 2025, and Allianz Asset Management GmbH increased its stake by 63.4%. This push-and-pull shows that while some funds are taking profits or reallocating, others are initiating or building new positions, defintely seeing value in the regulated utility space.

• Greenland Capital Management LP cut 130,505 shares in Q2 2025.
• Creative Planning increased shares by 34.3% as of November 14, 2025 filings.
• Amundi decreased shares by 32.9% as of November 14, 2025 filings.

Impact on Stock Price and Corporate Strategy

These large institutional investors play a critical role that goes beyond just buying and selling stock. They are a stabilizing force for Fortis Inc. because they are long-term holders attracted to the company's consistent dividend growth and low-risk, regulated business model. This structured oversight helps ensure the company adheres to sector standards and maintains alignment with shareholder objectives, particularly the dividend strategy.

Their influence impacts the stock price directly, but not always in a predictable way. Large-scale transactions by a few major owners can lead to market volatility. If two large institutions try to sell out simultaneously, you'll see a sharp, short-term price drop. However, their collective engagement strongly influences Fortis's strategic direction, capital allocation, and dividend policies. The company's recent Q3 2025 earnings report, which unveiled a massive $28.8 billion capital plan for 2026-2030 and extended its annual dividend growth guidance of 4-6% through 2030, is a direct response to the long-term, stable growth demands of this institutional base.

If you want to dig deeper into the company's foundation, check out Fortis Inc. (FTS): History, Ownership, Mission, How It Works & Makes Money. Your next step should be to compare the institutional selling volume in Q4 2025 against the new capital plan's funding strategy to see if the market is buying the long-term growth story.

Key Investors and Their Impact on Fortis Inc. (FTS)

You're looking at Fortis Inc. (FTS) because it's a bedrock utility-a classic defensive play with a long dividend history. The direct takeaway is that your investment is in good company: institutional investors, primarily large, passive asset managers, own the majority of the stock, providing a strong, stabilizing force, but also making the stock price sensitive to their collective trading decisions.

As of late 2025, institutional owners hold the lion's share, controlling approximately 54% of the company's stock. This is a huge vote of confidence, but it also means the stock is vulnerable if a few large players decide to sell at the same time. These institutions hold a total of over 266,575,503 shares in the U.S. listing alone. That's a lot of capital betting on the predictable, regulated utility model.

Here's the quick math: With institutions owning over half the company, they can defintely strongly influence board decisions, even without an activist campaign.

The Notable Investors: Who Holds the Keys?

The largest shareholders of Fortis Inc. are not the typical headline-grabbing hedge funds, but rather the behemoths of the asset management world-the ones who buy for stability and index tracking. You're talking about funds that value the company's low-risk, regulated portfolio and its 52-year streak of dividend increases.

The top investors are dominated by major index and asset managers, which is typical for a utility company that is part of key market indices. They are generally passive investors, meaning they buy and hold to track an index or for long-term income, rather than push for radical strategic changes.

• The Vanguard Group, Inc. is the single largest shareholder, holding approximately 4.6% of shares outstanding.
• BMO Asset Management Corp. is a close second, owning about 4.4% of the common stock.
• Fidelity International Ltd holds a significant stake, with approximately 4.2% of the company's stock.

Other major Canadian financial institutions like Royal Bank Of Canada, TD Asset Management Inc., and Scotia Capital Inc. are also among the largest institutional holders. These investors are drawn to the company's regulated asset base, which stood at $75 billion as of March 31, 2025, providing a predictable earnings stream.

Investor Influence: Stability Over Activism

The influence of this investor profile is centered on stability and capital allocation. Because the largest holders are passive, they generally support management's long-term, low-risk strategy, particularly the capital expenditure plan that drives rate base growth. This is the core reason you don't see public activist battles here.

The shareholder support is clear: at the May 2025 Annual Meeting, all proposed items, including the election of the 12 directors and the non-binding advisory vote on executive compensation (or Say on Pay), passed with overwhelming approval, ranging from 94.19% to 99.49%. This signals a highly aligned and quiescent investor base. They're buying into the predictable growth story, which is supported by the new 2026-2030 capital plan of $28.8 billion.

Recent Notable Moves in 2025

In the near-term, we've seen a mix of buying and selling, which is normal for a highly-owned institutional stock. What matters is the net flow and the conviction behind the moves. The stock price, which was around $52.12 per share as of November 17, 2025, reflects this constant institutional churn.

In the first half of 2025, some funds clearly increased their conviction in the Fortis Inc. story:

• Allianz Asset Management GmbH significantly boosted its stake by 63.4% in the first quarter of 2025.
• Creative Planning made a notable purchase, adding 104,322 shares as of the November 14, 2025 filing, a quarterly change of +34.3%.

However, not all moves were net positive. Some investors took profits or rebalanced their utility exposure:

• Amundi decreased its position by 32.9%, selling a large block of shares.
• Cumberland Partners Ltd trimmed its holdings by 23.2% in the second quarter of 2025.

This constant rebalancing is what you see in a defensive stock. The sellers are likely reallocating to higher-growth sectors, while the buyers are doubling down on the stability and the company's ability to deliver consistent earnings, which hit an adjusted $0.87 per common share in Q3 2025. If you want to dig deeper into the fundamentals that support these decisions, you should check out Breaking Down Fortis Inc. (FTS) Financial Health: Key Insights for Investors.

Market Impact and Investor Sentiment

You're looking at Fortis Inc. (FTS) because you want stability and growth, and honestly, the market agrees. The current investor sentiment for Fortis is a solid Moderate Buy, which is a strong signal for a utility stock. This positive outlook is anchored in the company's new, substantial five-year capital plan and its legendary dividend track record.

The company's commitment to its regulated growth strategy is the main driver. They recently unveiled a $28.8 billion capital plan that targets a 7% average annual rate-base growth through 2030. That's a clear path for predictable earnings, which is exactly what income-focused investors want. It's a sleep-well-at-night stock, defintely.

The Institutional Anchor: Who Holds the Keys?

Fortis Inc.'s investor profile is dominated by institutional money, which owns about 54% of the shares. This high level of institutional ownership-from pension funds to asset managers-is a huge vote of confidence in the company's long-term stability and regulated business model. It means big money is betting on the predictable cash flow of a utility. The remaining 46% is held by the general public, mostly individual investors.

The concentration of ownership means that while the stock is stable, its price can be vulnerable to the trading decisions of a few large players. Here's the quick math on the top holders as of late 2025, showing just how concentrated the big bets are:

The Vanguard Group alone holds roughly 23.6 million shares, which is a massive anchor for the stock. This institutional backing reinforces the company's reputation as a low-risk, dividend-growth machine.

Recent Market Moves and Earnings Reaction

The stock market has responded well to Fortis's overall stability in 2025. The stock has climbed more than 17% year-to-date and recently touched a new 52-week high of C$73.66 in November. But, to be fair, the market had a slightly mixed reaction to the Q3 2025 earnings report.

Fortis reported Q3 2025 adjusted earnings per share (EPS) of $0.59, which missed the consensus analyst estimate of $0.61 by a couple of cents. This miss was mainly due to closing costs from the disposal of Fortis TCI and Belize assets, which actually makes the company a 100% regulated utility-a long-term positive. So, a short-term earnings hiccup for a long-term strategic win. Plus, the company increased its quarterly dividend to $0.64 per share, extending its 52-year dividend growth streak.

• Stock is up over 17% year-to-date in 2025.
• Q3 2025 EPS of $0.59 missed consensus by $0.02.
• Quarterly dividend was boosted to $0.64 per share.

Analyst Consensus and Key Investor Drivers

The analyst community's consensus is a clear 'Moderate Buy,' with an average 1-year price target of C$73.65. Firms like Royal Bank of Canada and TD Securities have been particularly bullish, raising their price targets to C$79.00 in November 2025. Their optimism is rooted in the quality of the company's regulated assets and the clear path for rate base expansion.

Here's what the analysts are really focused on when they look at Fortis Inc. (FTS):

• Rate Base Growth: The new capital plan is expected to grow the rate base from $39.0 billion in 2024 to $53.0 billion by 2029.
• Data Center Demand: Load growth opportunities, like the agreement at Tucson Electric Power to provide approximately 300 MW to a new data center, are a major tailwind.
• Dividend Reliability: The commitment to 4-6% annual dividend growth through 2030 is a huge draw for income funds.

Raymond James Financial even raised its FY2025 EPS estimate to $3.52, up from $3.50, maintaining an 'Outperform' rating. That upward revision, even after a slight Q3 miss, shows analysts are looking past short-term noise and focusing on the long-term, regulated growth story. If you want to dive deeper into the core strategy, you can read the Mission Statement, Vision, & Core Values of Fortis Inc. (FTS).