TransCanada Sees Unusually High Options Volume (NYSE:TRP)

TransCanada Co. (NYSE:TRP) (TSE:TRP) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 3,706 call options on the stock. This represents an increase of approximately 4,908% compared to the average daily volume of 74 call options.

Institutional investors have recently made changes to their positions in the business. Atlantic Trust Group LLC raised its position in TransCanada by 8.6% during the 2nd quarter. Atlantic Trust Group LLC now owns 376,174 shares of the pipeline company’s stock worth $17,932,000 after buying an additional 29,748 shares during the last quarter. Lipe & Dalton raised its position in TransCanada by 2.8% during the 2nd quarter. Lipe & Dalton now owns 74,507 shares of the pipeline company’s stock worth $3,552,000 after buying an additional 2,030 shares during the last quarter. Sentry Investments Corp. raised its position in TransCanada by 50.9% during the 2nd quarter. Sentry Investments Corp. now owns 519,700 shares of the pipeline company’s stock worth $32,128,000 after buying an additional 175,300 shares during the last quarter. Ameriprise Financial Inc. raised its position in TransCanada by 4.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 453,479 shares of the pipeline company’s stock worth $22,414,000 after buying an additional 19,403 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in TransCanada by 44.2% during the 3rd quarter. Wells Fargo & Company MN now owns 783,294 shares of the pipeline company’s stock worth $38,719,000 after buying an additional 239,982 shares during the last quarter. Institutional investors own 56.86% of the company’s stock.

TransCanada (NYSE:TRP) traded up $0.10 during mid-day trading on Friday, reaching $47.86. 1,143,748 shares of the company traded hands, compared to its average volume of 820,993. TransCanada has a 1 year low of $45.07 and a 1 year high of $51.85. The stock has a market cap of $41,911.88, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 2.32 and a beta of 0.66. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.48 and a current ratio of 0.51.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a $0.491 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.96 annualized dividend and a yield of 4.10%. TransCanada’s dividend payout ratio (DPR) is 126.45%.

Several research analysts have recently issued reports on TRP shares. Morgan Stanley started coverage on shares of TransCanada in a report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 target price for the company. TD Securities upgraded shares of TransCanada to a “buy” rating in a research report on Friday, November 10th. TheStreet downgraded shares of TransCanada from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. JPMorgan Chase & Co. assumed coverage on shares of TransCanada in a research report on Thursday, October 5th. They issued an “overweight” rating for the company. Finally, Zacks Investment Research downgraded shares of TransCanada from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $58.75.

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About TransCanada

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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