Napier Park Global Capital (us) Lp adds ITC Holdings Corp. (ITC) to its portfolio

ITC Holdings Corp. (ITC) : Napier Park Global Capital (us) Lp added new position in ITC Holdings Corp. during the most recent quarter end. The investment management firm now holds 162,980 shares of ITC Holdings Corp. which is valued at $7.2 Million , the company said in a statement filed on May 13, 2016 with the SEC.ITC Holdings Corp. makes up approximately 2.84% of Napier Park Global Capital (us) Lp’s portfolio.

Other Hedge Funds, Including , Hartford Investment Management Co reduced its stake in ITC by selling 28,124 shares or 42.81% in the most recent quarter. The Hedge Fund company now holds 37,567 shares of ITC which is valued at $1.7 Million. ITC Holdings Corp. makes up approx 0.04% of Hartford Investment Management Co’s portfolio. Connable Office Inc sold out all of its stake in ITC during the most recent quarter. The investment firm sold 9,000 shares of ITC which is valued $398,250.Ifp Advisors Inc boosted its stake in ITC in the latest quarter, The investment management firm added 325 additional shares and now holds a total of 10,462 shares of ITC Holdings Corp. which is valued at $462,002. ITC Holdings Corp. makes up approx 0.03% of Ifp Advisors Inc’s portfolio.Russell Frank Co reduced its stake in ITC by selling 604,419 shares or 87.05% in the most recent quarter. The Hedge Fund company now holds 89,947 shares of ITC which is valued at $4 Million. ITC Holdings Corp. makes up approx 0.01% of Russell Frank Co’s portfolio.Kames Capital Plc reduced its stake in ITC by selling 3,206 shares or 8.14% in the most recent quarter. The Hedge Fund company now holds 36,177 shares of ITC which is valued at $1.6 Million. ITC Holdings Corp. makes up approx 0.05% of Kames Capital Plc’s portfolio.

ITC Holdings Corp. opened for trading at $44.21 and hit $44.79 on the upside on Wednesday, eventually ending the session at $44.63, with a gain of 0.84% or 0.37 points. The heightened volatility saw the trading volume jump to 6,68,132 shares. Company has a market cap of $6,818 M.

On the company’s financial health, ITC Holdings Corp. reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.52. The company had revenue of $280.13 million for the quarter, compared to analysts expectations of $299.21 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Investors should note that on May 19, 2016, ITC Holdings Corp. announced a cash dividend of $0.1875. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on ITC Holdings Corp.. Deutsche Bank Downgraded ITC Holdings Corp. on Mar 15, 2016 to ” Hold”, Price Target of the shares are set at $43.ITC Holdings Corp. was Downgraded by Gabelli & Co to ” Hold” on Feb 26, 2016.

ITC Holdings Corp. is an independent electricity transmission company in the United States. The Company operates maintains and invests in transmission infrastructure. The Company’s customers include investor-owned utilities municipalities cooperatives power marketers and alternative energy suppliers. Its regional infrastructure includes four North Central Multi-Value Projects (MVPs) and the Thumb Loop Project. The Company’s subsidiaries operations include asset planning; engineering design and construction; maintenance and real time operations. The Asset Planning group uses system models and load forecasts to develop its system expansion capital plans. The Engineering Design and Construction group is engaged in the design equipment specifications maintenance plans and project engineering for capital operation and maintenance work. The Company develops and tracks preventive maintenance plans. Its real time operations include system and local balancing authoring operations.

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