Kohlberg Kravis Roberts Lowers stake in TransCanada Corporation (USA) (TRP)

TransCanada Corporation (USA) (TRP) : Kohlberg Kravis Roberts reduced its stake in TransCanada Corporation (USA) by 22.59% during the most recent quarter end. The investment management company now holds a total of 71,339 shares of TransCanada Corporation (USA) which is valued at $3,414,285 after selling 20,823 shares in TransCanada Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.TransCanada Corporation (USA) makes up approximately 0.03% of Kohlberg Kravis Roberts’s portfolio.

Other Hedge Funds, Including , Twin Tree Management Lp boosted its stake in TRP in the latest quarter, The investment management firm added 13,436 additional shares and now holds a total of 37,593 shares of TransCanada Corporation (USA) which is valued at $1,799,201. TransCanada Corporation (USA) makes up approx 0.34% of Twin Tree Management Lp’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in TRP in the latest quarter, The investment management firm added 96,834 additional shares and now holds a total of 395,912 shares of TransCanada Corporation (USA) which is valued at $18,948,348. TransCanada Corporation (USA) makes up approx 0.36% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Janney Montgomery Scott boosted its stake in TRP in the latest quarter, The investment management firm added 878 additional shares and now holds a total of 46,173 shares of TransCanada Corporation (USA) which is valued at $2,135,963. TransCanada Corporation (USA) makes up approx 0.03% of Janney Montgomery Scott’s portfolio.

TransCanada Corporation (USA) opened for trading at $45.2978 and hit $46.39 on the upside on Thursday, eventually ending the session at $46.18, with a gain of 1.61% or 0.73 points. The heightened volatility saw the trading volume jump to 12,81,914 shares. Company has a market cap of $36,944 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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