Hanson & Doremus Investment Management maintained its stake in TransCanada Corp. (NYSE:TRP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,630 shares of the company’s stock at the end of the second quarter. Hanson & Doremus Investment Management’s holdings in TransCanada Corp. were worth $300,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in TransCanada Corp. during the first quarter valued at approximately $117,000. Kassirer Asset Management Corp acquired a new stake in TransCanada Corp. during the second quarter valued at approximately $203,000. Pennsylvania Trust Co increased its stake in TransCanada Corp. by 9.3% in the second quarter. Pennsylvania Trust Co now owns 5,890 shares of the company’s stock valued at $266,000 after buying an additional 500 shares in the last quarter. Concert Wealth Management Inc. increased its stake in TransCanada Corp. by 56.7% in the second quarter. Concert Wealth Management Inc. now owns 8,171 shares of the company’s stock valued at $369,000 after buying an additional 2,957 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its stake in TransCanada Corp. by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 8,554 shares of the company’s stock valued at $387,000 after buying an additional 55 shares in the last quarter. 50.15% of the stock is owned by institutional investors.
Shares of TransCanada Corp. (NYSE:TRP) traded up 0.63% during trading on Monday, hitting $46.33. 366,347 shares of the stock were exchanged. The firm’s 50-day moving average is $46.76 and its 200 day moving average is $44.06. The company’s market cap is $37.06 billion. TransCanada Corp. has a 1-year low of $28.40 and a 1-year high of $48.52.
TransCanada Corp. (NYSE:TRP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. TransCanada Corp. had a negative net margin of 12.06% and a positive return on equity of 10.93%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company earned $0.56 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that TransCanada Corp. will post $1.94 earnings per share for the current fiscal year.
The company also recently announced a dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.433 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This is a boost from TransCanada Corp.’s previous dividend of $0.39. TransCanada Corp.’s dividend payout ratio (DPR) is currently -114.67%.
TRP has been the subject of several recent research reports. BMO Capital Markets reissued a “buy” rating and issued a $65.00 target price on shares of TransCanada Corp. in a research report on Friday, July 29th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $70.00 price objective on shares of TransCanada Corp. in a report on Friday, July 29th. Goldman Sachs Group Inc. assumed coverage on shares of TransCanada Corp. in a report on Wednesday, July 20th. They set a “buy” rating and a $70.00 price objective for the company. TD Securities reaffirmed a “buy” rating and set a $63.00 price objective on shares of TransCanada Corp. in a report on Tuesday, July 19th. Finally, Bank of America Corp. assumed coverage on shares of TransCanada Corp. in a report on Thursday, September 1st. They set a “buy” rating and a $45.45 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $58.73.
TransCanada Corp. Company Profile
TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.
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