ITC Holdings Corp. Declares Quarterly Dividend of $0.16 (ITC)
ITC Holdings Corp. (NYSE:ITC) announced a quarterly dividend on Wednesday, August 13th, ARN reports. Shareholders of record on Tuesday, September 2nd will be paid a dividend of 0.1625 per share on Monday, September 15th. This represents a $0.65 annualized dividend and a dividend yield of 1.80%.
Several analysts have recently commented on the stock. Analysts at Leerink Swann initiated coverage on shares of ITC Holdings Corp. in a research note on Wednesday. They set an “outperform” rating and a $34.00 price target on the stock. On a related note, analysts at Argus upgraded shares of ITC Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 21st. They now have a $42.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of ITC Holdings Corp. in a research note on Friday, June 20th. They now have a $38.50 price target on the stock, down previously from $41.00. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. ITC Holdings Corp. presently has an average rating of “Buy” and an average target price of $38.71.
Shares of ITC Holdings Corp. (NYSE:ITC) traded down 0.11% during mid-day trading on Wednesday, hitting $36.13. 593,827 shares of the company’s stock traded hands. ITC Holdings Corp. has a 52-week low of $28.60 and a 52-week high of $38.43. The stock has a 50-day moving average of $35.91 and a 200-day moving average of $36.02. The company has a market cap of $5.652 billion and a price-to-earnings ratio of 22.15.
ITC Holdings Corp. (NYSE:ITC) last released its earnings data on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $263.20 million for the quarter, compared to the consensus estimate of $265.01 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts expect that ITC Holdings Corp. will post $1.87 EPS for the current fiscal year.
ITC Holdings Corp. (NYSE:ITC) is engaged in the electric transmission operations of its Regulated Operating Subsidiaries.
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