Voya Investment Management LLC boosted its stake in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 0.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,609 shares of the pipeline company’s stock after purchasing an additional 361 shares during the quarter. Voya Investment Management LLC’s holdings in TransCanada Corporation were worth $4,557,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Atlantic Trust Group LLC boosted its position in TransCanada Corporation by 8.6% during the second quarter. Atlantic Trust Group LLC now owns 376,174 shares of the pipeline company’s stock worth $17,932,000 after purchasing an additional 29,748 shares during the period. Sentry Investments Corp. boosted its position in TransCanada Corporation by 50.9% during the second quarter. Sentry Investments Corp. now owns 519,700 shares of the pipeline company’s stock worth $32,128,000 after purchasing an additional 175,300 shares during the period. Lipe & Dalton boosted its position in TransCanada Corporation by 2.8% during the second quarter. Lipe & Dalton now owns 74,507 shares of the pipeline company’s stock worth $3,552,000 after purchasing an additional 2,030 shares during the period. Federated Investors Inc. PA boosted its position in TransCanada Corporation by 8.6% during the second quarter. Federated Investors Inc. PA now owns 159,328 shares of the pipeline company’s stock worth $7,595,000 after purchasing an additional 12,684 shares during the period. Finally, Franklin Resources Inc. boosted its position in TransCanada Corporation by 0.5% during the second quarter. Franklin Resources Inc. now owns 4,425,323 shares of the pipeline company’s stock worth $211,039,000 after purchasing an additional 23,376 shares during the period. 56.79% of the stock is owned by hedge funds and other institutional investors.
TRP has been the subject of a number of recent analyst reports. BidaskClub raised TransCanada Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research raised TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Saturday, July 8th. Morgan Stanley initiated coverage on TransCanada Corporation in a research report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 target price for the company. BMO Capital Markets upped their target price on TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Finally, J P Morgan Chase & Co initiated coverage on TransCanada Corporation in a research report on Thursday, October 5th. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $65.13.
Shares of TransCanada Corporation (TRP) opened at 50.09 on Friday. The stock has a 50 day moving average price of $50.28 and a 200 day moving average price of $48.57. TransCanada Corporation has a 52-week low of $42.69 and a 52-week high of $51.85. The company has a market capitalization of $43.63 billion, a PE ratio of 50.09 and a beta of 0.67.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.4995 per share. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Thursday, September 28th. TransCanada Corporation’s payout ratio is currently 232.56%.
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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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