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Last $32.06 USD
Change Today +0.11 / 0.34%
Volume 31.6K
ITC On Other Exchanges
Symbol
Exchange
Berlin
As of 9:40 AM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

itc holdings corp (ITC) Snapshot

Open
$32.57
Previous Close
$31.95
Day High
$32.57
Day Low
$32.01
52 Week High
01/23/15 - $44.00
52 Week Low
06/15/15 - $30.64
Market Cap
5.0B
Average Volume 10 Days
1.5M
EPS TTM
$1.67
Shares Outstanding
156.1M
EX-Date
08/28/15
P/E TM
19.2x
Dividend
$0.75
Dividend Yield
2.11%
Current Stock Chart for ITC HOLDINGS CORP (ITC)

itc holdings corp (ITC) Related Businessweek News

No Related Businessweek News Found

itc holdings corp (ITC) Details

ITC Holdings Corp., together with its subsidiaries, engages in the transmission of electricity in the United States. The company functions as conduit, allowing for power from generators to be transmitted to local distribution systems through its own systems or in conjunction with neighboring transmission systems. It owns and operates high-voltage transmission facilities in Michigan’s Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas, and Oklahoma. The company serves investor-owned utilities, municipalities, cooperatives, power marketers, and alternative energy suppliers. ITC Holdings Corp. was founded in 2001 and is headquartered in Novi, Michigan.

587 Employees
Last Reported Date: 02/26/15
Founded in 2001

itc holdings corp (ITC) Top Compensated Officers

Founder, Chairman, Chief Executive Officer an...
Total Annual Compensation: $3.3M
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $319.1K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $654.2K
Executive Vice President, Chief Business Unit...
Total Annual Compensation: $758.7K
Executive Vice President of US Regulated Grid...
Total Annual Compensation: $516.7K
Compensation as of Fiscal Year 2014.

itc holdings corp (ITC) Key Developments

ITC Holdings Corp. Declares Quarterly Cash Dividend, Payable on September 15, 2015

ITC Holdings Corp. has declared quarterly cash dividend of USD 0.1875 per share. The dividend will be paid to shareholders of record at September 1, 2015, on September 15, 2015.

ITC Holdings Corp. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six-Month Period Ended June 30, 2015; Reaffirms Earnings Guidance for the Year 2015

ITC Holdings Corp. announced unaudited consolidated financial results for the second quarter and six-month period ended June 30, 2015. For the second quarter, the company reported net income, measured in accordance with Generally Accepted Accounting Principles (GAAP), was $72.3 million, or $0.46 per diluted common share, compared to $54.3 million or $0.34 per diluted common share for the second quarter of 2014. Operating earnings were $80.8 million, or $0.52 per diluted common share, compared to $72.7 million, or $0.46 per diluted common share for the second quarter of 2014. Operating revenues increased to $288.4 million compared to $263.2 million for the second quarter of 2014. This increase was primarily due to higher revenue requirements attributable to a higher rate base at regulated operating subsidiaries, as well as an increase in regional cost sharing revenues resulting from additional capital projects being placed in-service that have been identified by the MISO as eligible for regional cost sharing. Income before income taxes was $115,432,000 against $87,543,000 a year ago. For the six months, reported net income was $139.5 million, or $0.89 per diluted common share, compared to $123.5 million, or $0.78 per diluted common share for the same period last year. Operating earnings were $153.9 million, or $0.98 per diluted common share, compared to operating earnings of $142.5 million, or $0.90 per diluted common share for the same period last year. Operating revenues increased to $568.3 million compared to $521.8 million from the same period last year. This increase was primarily due to higher revenue requirements attributable to a higher rate base at regulated operating subsidiaries, as well as an increase in regional cost sharing revenues due to additional capital projects being placed in-service that have been identified by MISO as eligible for regional cost sharing. Income before income taxes was $223,024,000 against $199,515,000 a year ago. For the six months ended June 30, 2015, the company reported total capital investments of $331 million, which includes $82.8 million at ITC Transmission, $51.2 million at METC, $182.9 million at ITC Midwest, $10 million at ITC Great Plains and $4.1 million for development of other related to the New Covert Project. For the six months ended June 30, 2015, the company reported operating cash flows of approximately $197 million, which is roughly flat with the prior period of 2014. The company reaffirmed earnings guidance for the year 2015. The company is reaffirming its full year operating earnings per share guidance of $2.00 to $2.15. ITC is also reaffirming its 2015 capital guidance range of $710 million to $810 million, which includes $170 million to $200 million for ITC Transmission, $150 million to $170 million for METC, $380 million to $405 million for ITC Midwest, $10 million to $25 million for ITC Great Plains and up to $10 million of Development and Other and the 11% of 13% compound annual operating EPS growth rate that the company forecasted as part of its 5-year plan. Net cash provided by operating activities was $197,399,000 against $195,972,000 a year ago. Expenditure for property, plant and equipment was $318,187,000 against $375,650,000 a year ago.

ITC Holdings Corp., Q2 2015 Earnings Call, Jul 30, 2015

ITC Holdings Corp., Q2 2015 Earnings Call, Jul 30, 2015

 

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Industry Analysis

ITC

Industry Average

Valuation ITC Industry Range
Price/Earnings 20.1x
Price/Sales 4.9x
Price/Book 2.9x
Price/Cash Flow 13.2x
TEV/Sales 0.9x
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