TransCanada Corporation (TRP) Stake Lessened by Cidel Asset Management Inc.

Cidel Asset Management Inc. reduced its holdings in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,586,146 shares of the pipeline company’s stock after selling 50,216 shares during the quarter. TransCanada Corporation accounts for about 3.5% of Cidel Asset Management Inc.’s holdings, making the stock its 9th biggest position. Cidel Asset Management Inc. owned approximately 0.18% of TransCanada Corporation worth $78,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TRP. FMR LLC grew its holdings in shares of TransCanada Corporation by 16.2% during the second quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock valued at $802,753,000 after buying an additional 2,350,684 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TransCanada Corporation by 4.8% during the second quarter. Vanguard Group Inc. now owns 21,658,344 shares of the pipeline company’s stock valued at $1,032,453,000 after buying an additional 983,799 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of TransCanada Corporation by 69.1% during the second quarter. PNC Financial Services Group Inc. now owns 2,199,225 shares of the pipeline company’s stock valued at $104,837,000 after buying an additional 898,862 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of TransCanada Corporation by 45.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,495,233 shares of the pipeline company’s stock valued at $123,246,000 after buying an additional 781,095 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of TransCanada Corporation by 540.7% during the second quarter. Wells Fargo & Company MN now owns 543,312 shares of the pipeline company’s stock valued at $25,900,000 after buying an additional 458,516 shares during the last quarter. Hedge funds and other institutional investors own 56.84% of the company’s stock.

TransCanada Corporation (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 9th. The pipeline company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.14. TransCanada Corporation had a net margin of 8.16% and a return on equity of 12.08%.

A number of research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, July 31st. BidaskClub cut shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley started coverage on shares of TransCanada Corporation in a report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 price target on the stock. Zacks Investment Research cut shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Finally, J P Morgan Chase & Co started coverage on shares of TransCanada Corporation in a report on Thursday, October 5th. They set an “overweight” rating on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $65.13.

ILLEGAL ACTIVITY NOTICE: “TransCanada Corporation (TRP) Stake Lessened by Cidel Asset Management Inc.” was originally reported by Community Financial News and is the property of of Community Financial News. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2017/11/02/transcanada-corporation-trp-stake-lessened-by-cidel-asset-management-inc.html.

TransCanada Corporation 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.

Institutional Ownership by Quarter for TransCanada Corporation (NYSE:TRP)

What are top analysts saying about TransCanada Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for TransCanada Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit