AlphaMark Advisors LLC held its position in shares of TransCanada Co. (NYSE:TRP) (TSE:TRP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,250 shares of the pipeline company’s stock at the end of the first quarter. AlphaMark Advisors LLC’s holdings in TransCanada were worth $381,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC raised its position in shares of TransCanada by 34.8% in the third quarter. Jennison Associates LLC now owns 3,172,952 shares of the pipeline company’s stock valued at $150,730,000 after buying an additional 818,715 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of TransCanada by 73.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 47,944 shares of the pipeline company’s stock valued at $2,165,000 after buying an additional 20,352 shares during the period. Brookfield Asset Management Inc. raised its position in shares of TransCanada by 2.0% in the third quarter. Brookfield Asset Management Inc. now owns 6,133,454 shares of the pipeline company’s stock valued at $291,978,000 after buying an additional 120,800 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of TransCanada during the third quarter valued at $99,563,000. Finally, Krasney Financial LLC purchased a new position in shares of TransCanada during the third quarter valued at $5,069,000. 57.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of TransCanada Co. (NYSE:TRP) opened at 47.01 on Wednesday. The company has a 50-day moving average price of $46.75 and a 200 day moving average price of $46.20. The firm has a market capitalization of $40.95 billion, a P/E ratio of 100.45 and a beta of 0.74. TransCanada Co. has a one year low of $41.01 and a one year high of $49.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be paid a $0.4568 dividend. This represents a $1.83 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, June 28th. This is a positive change from TransCanada’s previous quarterly dividend of $0.42. TransCanada’s payout ratio is presently -81.16%.
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Several research analysts recently weighed in on TRP shares. Zacks Investment Research lowered TransCanada from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 25th. Credit Suisse Group AG reaffirmed an “outperform” rating on shares of TransCanada in a research report on Friday, January 27th. TheStreet upgraded TransCanada from a “c” rating to a “b-” rating in a report on Friday, May 5th. Wolfe Research reiterated an “outperform” rating and issued a $53.00 price target on shares of TransCanada in a report on Friday, May 12th. Finally, Wells Fargo & Co started coverage on TransCanada in a report on Friday, March 31st. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $63.49.
TransCanada 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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