Ajo LP reduced its position in shares of TransCanada Corp. (NYSE:TRP) by 85.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,700 shares of the company’s stock after selling 32,900 shares during the period. Ajo LP’s holdings in TransCanada Corp. were worth $258,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in TRP. Eqis Capital Management Inc. boosted its stake in shares of TransCanada Corp. by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 8,554 shares of the company’s stock worth $387,000 after buying an additional 55 shares during the period. Integrated Wealth Management boosted its stake in shares of TransCanada Corp. by 9.1% in the second quarter. Integrated Wealth Management now owns 2,228 shares of the company’s stock worth $101,000 after buying an additional 186 shares during the period. Bollard Group LLC boosted its stake in shares of TransCanada Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 38,936 shares of the company’s stock worth $1,761,000 after buying an additional 189 shares during the period. Pennsylvania Trust Co boosted its stake in shares of TransCanada Corp. by 9.3% in the second quarter. Pennsylvania Trust Co now owns 5,890 shares of the company’s stock worth $266,000 after buying an additional 500 shares during the period. Finally, BB&T Securities LLC boosted its stake in shares of TransCanada Corp. by 5.6% in the first quarter. BB&T Securities LLC now owns 13,049 shares of the company’s stock worth $512,000 after buying an additional 697 shares during the period. 50.19% of the stock is owned by hedge funds and other institutional investors.
TransCanada Corp. (NYSE:TRP) traded down 0.62% during trading on Friday, reaching $47.98. The company had a trading volume of 275,049 shares. The company has a 50-day moving average of $46.93 and a 200-day moving average of $42.99. TransCanada Corp. has a 52-week low of $28.40 and a 52-week high of $48.52. The firm’s market capitalization is $38.38 billion.
TransCanada Corp. (NYSE:TRP) last announced its earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. TransCanada Corp. had a positive return on equity of 10.93% and a negative net margin of 12.06%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts expect that TransCanada Corp. will post $1.96 EPS 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 issued a dividend of $0.433 per share. This is a boost from TransCanada Corp.’s previous dividend of $0.39. The ex-dividend date is Wednesday, September 28th. TransCanada Corp.’s payout ratio is presently -115.33%.
A number of analysts recently issued reports on the company. Credit Suisse Group AG reissued a “buy” rating on shares of TransCanada Corp. in a research report on Saturday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $64.00 price objective on shares of TransCanada Corp. in a research note on Monday, June 13th. BMO Capital Markets reaffirmed a “buy” rating on shares of TransCanada Corp. in a research note on Monday, June 20th. TD Securities reaffirmed a “buy” rating and set a $63.00 price objective (up from $62.00) on shares of TransCanada Corp. in a research note on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. assumed coverage on TransCanada Corp. in a research note on Wednesday, July 20th. They set a “buy” rating and a $70.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. TransCanada Corp. has an average rating of “Buy” and an average target price of $58.65.
About TransCanada Corp.
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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