TransCanada Co. (TRP) Shares Bought by Nexus Investment Management Inc.

Nexus Investment Management Inc. grew its stake in TransCanada Co. (NYSE:TRP) (TSE:TRP) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 392,879 shares of the pipeline company’s stock after purchasing an additional 5,313 shares during the quarter. TransCanada makes up 2.8% of Nexus Investment Management Inc.’s holdings, making the stock its 17th biggest position. Nexus Investment Management Inc.’s holdings in TransCanada were worth $19,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in TransCanada by 4.5% during the third quarter. Ameriprise Financial Inc. now owns 453,479 shares of the pipeline company’s stock worth $22,414,000 after acquiring an additional 19,403 shares during the last quarter. Wells Fargo & Company MN boosted its position in TransCanada by 44.2% during the third quarter. Wells Fargo & Company MN now owns 783,294 shares of the pipeline company’s stock worth $38,719,000 after acquiring an additional 239,982 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in TransCanada by 461.4% during the third quarter. Cubist Systematic Strategies LLC now owns 27,280 shares of the pipeline company’s stock worth $1,348,000 after acquiring an additional 22,421 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in TransCanada by 45.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,495,233 shares of the pipeline company’s stock worth $123,246,000 after acquiring an additional 781,095 shares during the last quarter. Finally, Harvest Fund Advisors LLC boosted its position in TransCanada by 1.7% during the third quarter. Harvest Fund Advisors LLC now owns 3,145,328 shares of the pipeline company’s stock worth $155,474,000 after acquiring an additional 53,009 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.

TransCanada Co. (NYSE TRP) traded down $1.48 during trading hours on Thursday, reaching $47.47. 1,574,900 shares of the company’s stock traded hands, compared to its average volume of 924,971. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68. The firm has a market cap of $41,950.00, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 1.99 and a beta of 0.66. TransCanada Co. has a 12 month low of $45.07 and a 12 month high of $51.85.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a $0.491 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.96 annualized dividend and a yield of 4.14%. TransCanada’s payout ratio is 121.74%.

TRP has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of TransCanada in a research report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 price target on the stock. TD Securities upgraded shares of TransCanada to a “buy” rating in a research report on Friday, November 10th. TheStreet lowered shares of TransCanada from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. JPMorgan Chase & Co. initiated coverage on shares of TransCanada in a research report on Thursday, October 5th. They set an “overweight” rating on the stock. Finally, Zacks Investment Research lowered shares of TransCanada from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $59.25.

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TransCanada Company Profile

TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.

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Institutional Ownership by Quarter for TransCanada (NYSE:TRP)

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