Nexus Investment Management buys $17,364,270 stake in TransCanada Corporation (USA) (TRP)

TransCanada Corporation (USA) (TRP) : Nexus Investment Management scooped up 8,505 additional shares in TransCanada Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 380,295 shares of TransCanada Corporation (USA) which is valued at $17,364,270.TransCanada Corporation (USA) makes up approximately 3.21% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in TRP in the latest quarter, The investment management firm added 406,373 additional shares and now holds a total of 5,524,754 shares of TransCanada Corporation (USA) which is valued at $252,260,268. TransCanada Corporation (USA) makes up approx 0.26% of Legal General Group Plc’s portfolio.Advisory Services Network boosted its stake in TRP in the latest quarter, The investment management firm added 131 additional shares and now holds a total of 1,345 shares of TransCanada Corporation (USA) which is valued at $62,287. TransCanada Corporation (USA) makes up approx 0.01% of Advisory Services Network’s portfolio.Independent Portfolio Consultants reduced its stake in TRP by selling 315 shares or 2.95% in the most recent quarter. The Hedge Fund company now holds 10,350 shares of TRP which is valued at $485,726. TransCanada Corporation (USA) makes up approx 0.15% of Independent Portfolio Consultants’s portfolio.Chevy Chase Trust Holdings reduced its stake in TRP by selling 3,700 shares or 29.17% in the most recent quarter. The Hedge Fund company now holds 8,985 shares of TRP which is valued at $421,666.Eqis Capital Management boosted its stake in TRP in the latest quarter, The investment management firm added 6,290 additional shares and now holds a total of 14,844 shares of TransCanada Corporation (USA) which is valued at $696,629. TransCanada Corporation (USA) makes up approx 0.04% of Eqis Capital Management’s portfolio.

TransCanada Corporation (USA) closed down -1.72 points or -3.63% at $45.66 with 14,78,078 shares getting traded on Tuesday. Post opening the session at $46.72, the shares hit an intraday low of $45.341 and an intraday high of $46.89 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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