The 1832 Asset Management LP Sells 413278 Shares of TransCanada Corporation (TRP)

Posted March 01, 2017

The brokerage now has $53.00 price objective on the stock. Currently, TransCanada carries a Zacks Rank #2 (Buy).

Headquartered in Canada, TransCanada is engaged in the natural gas transmission and power services. Their pipeline transports the majority of Western Canada's natural gas production to growing markets in Canada and the United States. TransCanada has been divesting stakes in many of its other assets lately to fund the ambitious Columbia Pipeline acquisition deal inked in July past year. Finally, CSFB reiterated an "outperform" rating and set a C$70.00 price target on shares of TransCanada in a research report on Friday, November 18th.

Its last month's stock price volatility remained 5.36% which for the week stands at 4.38%. GMP Securities upgraded TransCanada Corporation from a "hold" rating to a "buy" rating in a research note on Monday, November 21st. Scotiabank reiterated an "outperform" rating and issued a C$69.00 price target on shares of TransCanada in a report on Wednesday, January 25th. RBC Capital Markets restated an "outperform" rating and set a $72.00 target price on shares of TransCanada Corporation in a report on Sunday, November 20th. Six equities research analysts have rated the stock with a buy recommendation. The stock was sold at an average price of C$62.50, for a total value of C$566,187.50.

1832 Asset Management L.P. decreased its position in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The stock has a market capitalization of $40.09 billion, a PE ratio of 379.02 and a beta of 0.74. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -2.23% where SMA50 and SMA200 are -0.82% and 2.72% respectively.

TransCanada Corporation (NYSE:TRP) opened at 47.36 on Friday.

Crescent Point Energy reported positive earnings surprise in each of the last four quarters, the average being 127.16%. The company had Year Ago Sales of 1.94 Billion. For the next 5 years, TransCanada Corporation is expecting Growth of 6.23% per annum, whereas in the past 5 years the growth was 8.2% per annum.

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Calgary-based midstream company TransCanada Corporation (TRP - Free Report) recently announced the sale of two USA pipelines to affiliated limited partnership, TC Pipelines, LP (TCP - Free Report) in order to fund the purchase of Columbia Pipeline Group.

While looking at the Stock's Performance, TransCanada Corporation now shows a Weekly Performance of -2.65%, where Monthly Performance is -4.68%, Quarterly performance is 2.75%, 6 Months performance is 0.88% and yearly performance percentage is 30.85%. In the last quarter, insiders sold 11,059 shares of company stock worth $689,638. Finally, SL Advisors LLC acquired a new position in shares of TransCanada Corporation during the second quarter worth approximately $3,345,000. Princeton Alpha Management LP bought a new position in TransCanada Corporation during the third quarter worth about $245,000. The institutional investor owned 15,428,437 shares of the company's stock after selling 413,278 shares during the period.