Rare Infrastructure Ltd Exits Position in TransCanada Corporation (USA) (TRP)

TransCanada Corporation (USA) (TRP) : Rare Infrastructure Ltd has sold out all of its stake in TransCanada Corporation (USA) during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 8,800 shares of TransCanada Corporation (USA) which is valued at $421,168.

Other Hedge Funds, Including , Qs Investors boosted its stake in TRP in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 8,197 shares of TransCanada Corporation (USA) which is valued at $392,308.Sentry Investments Corp. reduced its stake in TRP by selling 391,900 shares or 14.13% in the most recent quarter. The Hedge Fund company now holds 2,380,800 shares of TRP which is valued at $113,945,088. TransCanada Corporation (USA) makes up approx 1.53% of Sentry Investments Corp.’s portfolio.Parametric Portfolio Associates boosted its stake in TRP in the latest quarter, The investment management firm added 5,104 additional shares and now holds a total of 91,862 shares of TransCanada Corporation (USA) which is valued at $4,396,515. TransCanada Corporation (USA) makes up approx 0.01% of Parametric Portfolio Associates’s portfolio.State Of Tennessee Treasury Department boosted its stake in TRP in the latest quarter, The investment management firm added 96,453 additional shares and now holds a total of 1,015,441 shares of TransCanada Corporation (USA) which is valued at $48,599,006. TransCanada Corporation (USA) makes up approx 0.24% of State Of Tennessee Treasury Department’s portfolio.Bank Of Nova Scotia Trust Co reduced its stake in TRP by selling 73,590 shares or 6.75% in the most recent quarter. The Hedge Fund company now holds 1,015,972 shares of TRP which is valued at $48,624,420. TransCanada Corporation (USA) makes up approx 6.14% of Bank Of Nova Scotia Trust Co’s portfolio.

TransCanada Corporation (USA) opened for trading at $46.31 and hit $46.77 on the upside on Wednesday, eventually ending the session at $46.46, with a gain of 0.50% or 0.23 points. The heightened volatility saw the trading volume jump to 1,519,650 shares. Company has a market cap of $37,168 M.

On the company’s financial health, TransCanada Corporation (USA) reported $0.52 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.52. The company had revenue of $2751.00 million for the quarter, compared to analysts expectations of $2579.00 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Investors should note that on Jul 28, 2016, TransCanada Corporation (USA) announced a cash dividend of $0.5650. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 31, 2016.

Many Wall Street Analysts have commented on TransCanada Corporation (USA). TransCanada Corporation (USA) was Initiated by BofA/Merrill to “Buy” on Sep 1, 2016. TransCanada Corporation (USA) was Resumed by Goldman to “Buy” on Jul 20, 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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