ITC Rises On Unusually High Volume (ITC)

NEW YORK (TheStreet) -- ITC Holdings (NYSE:ITC) is trading at unusually high volume Friday with 1.4 million shares changing hands. It is currently at four times its average daily volume and trading up $2.71 (+3.8%) at $74.62 as of 1:40 p.m. ET.

ITC has a market cap of $3.95 billion and is part of the utilities sector and utilities industry. Shares are down 5.2% year to date as of the close of trading on Thursday.

ITC Holdings Corp., together with its subsidiaries, engages in the transmission of electricity in the United States. The company has a P/E ratio of 22.8, equal to the average utilities industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates ITC as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full ITC Ratings Report.

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