Transcanada Corp (TRP) Valuation Declined While Deutsche Bank Ag Trimmed by $14.19 Million Its Holding

June 14, 2018 - By Ruby Caswell

TransCanada Corporation (NYSE:TRP) Logo

Deutsche Bank Ag decreased its stake in Transcanada Corp (TRP) by 1.27% based on its latest 2018Q1 regulatory filing with the SEC. Deutsche Bank Ag sold 346,129 shares as the company’s stock declined 9.48% with the market. The institutional investor held 26.86M shares of the natural gas distribution company at the end of 2018Q1, valued at $1.11 billion, down from 27.21 million at the end of the previous reported quarter. Deutsche Bank Ag who had been investing in Transcanada Corp for a number of months, seems to be less bullish one the $37.21 billion market cap company. The stock decreased 0.91% or $0.38 during the last trading session, reaching $41.5. About 768,948 shares traded. TransCanada Corporation (NYSE:TRP) has declined 12.02% since June 14, 2017 and is downtrending. It has underperformed by 24.59% the S&P500.

Deutsche Bank Ag, which manages about $153.88B US Long portfolio, upped its stake in Novavax Inc (NASDAQ:NVAX) by 2.11 million shares to 4.68M shares, valued at $9.82 million in 2018Q1, according to the filing. It also increased its holding in Haemonetics Corp (NYSE:HAE) by 167,732 shares in the quarter, for a total of 468,357 shares, and has risen its stake in Sabre Corp (NASDAQ:SABR).

Analysts await TransCanada Corporation (NYSE:TRP) to report earnings on July, 27. They expect $0.56 earnings per share, 0.00 % or $0.00 from last year’s $0.56 per share. TRP’s profit will be $502.11M for 18.53 P/E if the $0.56 EPS becomes a reality. After $0.78 actual earnings per share reported by TransCanada Corporation for the previous quarter, Wall Street now forecasts -28.21 % negative EPS growth.

More notable recent TransCanada Corporation (NYSE:TRP) news were published by: Fool.com which released: “3 Energy Mergers That Need to Happen” on June 12, 2018, also Seekingalpha.com with their article: “TransCanada working on Leach Xpress pipeline after West Virginia blast” published on June 13, 2018, Seekingalpha.com published: “TransCanada Helps Mexico Turn To Gas” on May 29, 2018. More interesting news about TransCanada Corporation (NYSE:TRP) were released by: Fool.ca and their article: “RRSP Investors: 2 Canadian Stocks to Hold for Decades” published on June 12, 2018 as well as Seekingalpha.com‘s news article titled: “Gas Pipeline Growth For TransCanada” with publication date: June 05, 2018.

TransCanada Corporation (NYSE:TRP) Ratings Coverage

Among 4 analysts covering TransCanada (NYSE:TRP), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. TransCanada has $68 highest and $46 lowest target. $57’s average target is 37.35% above currents $41.5 stock price. TransCanada had 7 analyst reports since January 11, 2018 according to SRatingsIntel. Morgan Stanley maintained the stock with “Overweight” rating in Friday, March 23 report. The rating was downgraded by Wells Fargo to “Market Perform” on Thursday, March 22. The firm earned “Buy” rating on Wednesday, March 28 by Citigroup. The rating was maintained by Morgan Stanley on Friday, March 16 with “Overweight”. The rating was upgraded by Morgan Stanley on Thursday, January 11 to “Buy”. The firm has “Overweight” rating by Morgan Stanley given on Friday, February 9.

TransCanada Corporation (NYSE:TRP) Ratings Chart

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