Scotia Capital buys $127.5 Million stake in TransCanada Corporation (USA) (TRP)

TransCanada Corporation (USA) (TRP) : Scotia Capital scooped up 100,040 additional shares in TransCanada Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 3,189,305 shares of TransCanada Corporation (USA) which is valued at $127.5 Million.TransCanada Corporation (USA) makes up approximately 3.06% of Scotia Capital’s portfolio.

Other Hedge Funds, Including , Lipe Dalton boosted its stake in TRP in the latest quarter, The investment management firm added 530 additional shares and now holds a total of 61,752 shares of TransCanada Corporation (USA) which is valued at $2.5 Million. TransCanada Corporation (USA) makes up approx 1.93% of Lipe Dalton’s portfolio.Estabrook Capital Management reduced its stake in TRP by selling 400 shares or 37.31% in the most recent quarter. The Hedge Fund company now holds 672 shares of TRP which is valued at $26,873. Schroder Investment Management Group sold out all of its stake in TRP during the most recent quarter. The investment firm sold 81,129 shares of TRP which is valued $3.2 Million. Archford Capital Strategies sold out all of its stake in TRP during the most recent quarter. The investment firm sold 246 shares of TRP which is valued $9,838.Kayne Anderson Capital Advisors Lp boosted its stake in TRP in the latest quarter, The investment management firm added 227,000 additional shares and now holds a total of 730,100 shares of TransCanada Corporation (USA) which is valued at $29.2 Million. TransCanada Corporation (USA) makes up approx 0.36% of Kayne Anderson Capital Advisors Lp’s portfolio.

TransCanada Corporation (USA) opened for trading at $40.35 and hit $41 on the upside on Friday, eventually ending the session at $40.76, with a gain of 1.07% or 0.43 points. The heightened volatility saw the trading volume jump to 11,99,165 shares. Company has a market cap of $28,614 M.

On the company’s financial health, TransCanada Corporation (USA) reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.66. The company had revenue of $2547.00 million for the quarter, compared to analysts expectations of $2978.63 million. The company’s revenue was down -11.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on TransCanada Corporation (USA). TransCanada Corporation (USA) was Resumed by Credit Suisse to “Outperform” on Apr 8, 2016. TransCanada Corporation (USA) was Upgraded by Citigroup to ” Buy” on Mar 30, 2016. TransCanada Corporation (USA) was Downgraded by Citigroup to ” Neutral” on Mar 11, 2016.

TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines Liquids Pipelines and Energy. Natural Gas Pipelines and Liquids Pipelines consist of its respective natural gas and liquids pipelines in Canada the United States and Mexico as well as its regulated natural gas storage operations in the United States. Its natural gas pipeline network transports natural gas to local distribution companies power generation facilities and other businesses across Canada the United States and Mexico. Its existing liquids pipeline infrastructure connects Alberta and the United States crude oil supplies to the United States refining markets in Illinois Oklahoma and Texas as well as connecting the United States crude oil supplies from the Cushing Oklahoma hub to refining markets in the United States Gulf Coast. Energy includes its power operations and the non-regulated natural gas storage business in Canada.

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