Cubist Systematic Strategies LLC Sells 5,243 Shares of TransCanada Corporation (TRP)

Cubist Systematic Strategies LLC decreased its position in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 51.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,859 shares of the pipeline company’s stock after selling 5,243 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in TransCanada Corporation were worth $232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. First Citizens Bank & Trust Co. lifted its holdings in TransCanada Corporation by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 8,225 shares of the pipeline company’s stock valued at $392,000 after acquiring an additional 30 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in TransCanada Corporation by 2.0% in the second quarter. Oppenheimer & Co. Inc. now owns 7,723 shares of the pipeline company’s stock valued at $368,000 after acquiring an additional 153 shares during the period. Wetherby Asset Management Inc. lifted its holdings in TransCanada Corporation by 1.5% in the second quarter. Wetherby Asset Management Inc. now owns 12,178 shares of the pipeline company’s stock valued at $580,000 after acquiring an additional 182 shares during the period. SG Americas Securities LLC lifted its holdings in TransCanada Corporation by 2.9% in the second quarter. SG Americas Securities LLC now owns 7,827 shares of the pipeline company’s stock valued at $373,000 after acquiring an additional 222 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in TransCanada Corporation by 0.4% in the second quarter. Voya Investment Management LLC now owns 95,609 shares of the pipeline company’s stock valued at $4,557,000 after acquiring an additional 361 shares during the period. 56.84% of the stock is currently owned by institutional investors.

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TRP has been the topic of a number of recent research reports. Zacks Investment Research raised TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Saturday, July 8th. BidaskClub raised TransCanada Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. BMO Capital Markets increased their target price on TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Morgan Stanley initiated coverage on TransCanada Corporation in a report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 target price on the stock. Finally, J P Morgan Chase & Co initiated coverage on TransCanada Corporation in a report on Thursday, October 5th. They issued an “overweight” rating on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $65.13.

TransCanada Corporation (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 9th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.14. TransCanada Corporation had a return on equity of 12.08% and a net margin of 8.16%.

TransCanada Corporation 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 Corporation (NYSE:TRP)

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