Nexus Investment Management buys $17,187,852 stake in TransCanada Corporation (USA) (TRP)

TransCanada Corporation (USA) (TRP) : Nexus Investment Management scooped up 11,300 additional shares in TransCanada Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 6, 2016. The investment management firm now holds a total of 371,790 shares of TransCanada Corporation (USA) which is valued at $17,187,852.TransCanada Corporation (USA) makes up approximately 3.23% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including ,

TransCanada Corporation (USA) closed down -0.31 points or -0.67% at $45.92 with 13,93,893 shares getting traded on Monday. Post opening the session at $46.28, the shares hit an intraday low of $45.87 and an intraday high of $46.58 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 (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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