Global X Management Co. LLC Has $29.42 Million Stake in TransCanada Co. (TRP)

Global X Management Co. LLC boosted its position in shares of TransCanada Co. (NYSE:TRP) (TSE:TRP) by 12.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 604,826 shares of the pipeline company’s stock after purchasing an additional 64,946 shares during the period. Global X Management Co. LLC owned about 0.07% of TransCanada worth $29,419,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in TransCanada by 4.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 453,479 shares of the pipeline company’s stock valued at $22,414,000 after purchasing an additional 19,403 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in TransCanada by 44.2% during the 3rd quarter. Wells Fargo & Company MN now owns 783,294 shares of the pipeline company’s stock valued at $38,719,000 after purchasing an additional 239,982 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in TransCanada by 461.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 27,280 shares of the pipeline company’s stock valued at $1,348,000 after purchasing an additional 22,421 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in TransCanada by 45.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,495,233 shares of the pipeline company’s stock valued at $123,246,000 after purchasing an additional 781,095 shares during the last quarter. Finally, Harvest Fund Advisors LLC lifted its holdings in TransCanada by 1.7% during the 3rd quarter. Harvest Fund Advisors LLC now owns 3,145,328 shares of the pipeline company’s stock valued at $155,474,000 after purchasing an additional 53,009 shares during the last quarter. 57.19% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on TRP shares. Morgan Stanley cut their price target on shares of TransCanada from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Zacks Investment Research downgraded shares of TransCanada from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. TD Securities raised shares of TransCanada to a “buy” rating in a report on Friday, November 10th. Finally, TheStreet downgraded shares of TransCanada from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $57.25.

TransCanada Co. (NYSE:TRP) opened at $42.95 on Wednesday. TransCanada Co. has a 12 month low of $41.24 and a 12 month high of $51.85. The firm has a market cap of $37,515.34, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.06 and a beta of 0.60. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.51 and a quick ratio of 0.48.

TransCanada (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, February 15th. The pipeline company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.12. TransCanada had a net margin of 14.40% and a return on equity of 11.99%. sell-side analysts anticipate that TransCanada Co. will post 2.33 EPS for the current year.

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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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Institutional Ownership by Quarter for TransCanada (NYSE:TRP)

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