Cidel Asset Management Inc. lessened its position in TransCanada Co. (NYSE:TRP) (TSE:TRP) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,571,061 shares of the pipeline company’s stock after selling 15,085 shares during the period. TransCanada comprises 3.3% of Cidel Asset Management Inc.’s portfolio, making the stock its 10th largest holding. Cidel Asset Management Inc. owned about 0.18% of TransCanada worth $76,460,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of TRP. Advisor Group Inc. lifted its stake in shares of TransCanada by 30.4% in the second quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock worth $143,000 after buying an additional 699 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of TransCanada in the third quarter worth approximately $178,000. MHI Funds LLC bought a new position in shares of TransCanada in the fourth quarter worth approximately $208,000. GSA Capital Partners LLP bought a new position in shares of TransCanada in the third quarter worth approximately $214,000. Finally, FDx Advisors Inc. bought a new position in shares of TransCanada in the third quarter worth approximately $221,000. Hedge funds and other institutional investors own 57.19% of the company’s stock.
TRP has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of TransCanada from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Zacks Investment Research cut shares of TransCanada from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. TD Securities raised shares of TransCanada to a “buy” rating in a report on Friday, November 10th. Finally, TheStreet cut shares of TransCanada from a “b” rating to a “c+” rating in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $57.25.
TransCanada (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, February 15th. The pipeline company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.12. TransCanada had a net margin of 14.40% and a return on equity of 11.99%. analysts anticipate that TransCanada Co. will post 2.34 EPS for the current fiscal year.
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TransCanada Company Profile
TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.
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