why I sold out balance of my FTS @ $50.05 todaylooking at the five year chart shows that FTS has "peaked" every 18 months & although it might be a couple of weeks early, we are in that window at the moment.
P/E is now almost 20 and yield has dropped to 3.6%.
Added risk: next week it's quite likely that Jason Kenny who has promised "to cut of resource shipments to B.C." will become the new premier of Alberta , and Fortis is a major supplier of NG from Alberta. I se this as unlikely but possible and the overhang from the threat might weigh on FTS shares near term.
I'm taking the proceeds and buying ZWU (P/E 18, yield 6%) short term to wait out the possible transition.
Target price for repurchase is $42.00 -