Commonwealth Bank of Australia decreased its position in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,917 shares of the pipeline company’s stock after selling 3,491 shares during the period. Commonwealth Bank of Australia’s holdings in TransCanada Corporation were worth $5,373,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. TD Asset Management Inc. lifted its position in TransCanada Corporation by 0.6% during the 2nd quarter. TD Asset Management Inc. now owns 26,674,301 shares of the pipeline company’s stock worth $1,269,734,000 after acquiring an additional 148,257 shares during the last quarter. Wellington Management Group LLP lifted its position in TransCanada Corporation by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 22,043,895 shares of the pipeline company’s stock worth $1,015,122,000 after acquiring an additional 313,483 shares during the last quarter. Vanguard Group Inc. lifted its position in TransCanada Corporation by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 20,674,545 shares of the pipeline company’s stock worth $954,130,000 after acquiring an additional 1,194,936 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in TransCanada Corporation by 0.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,210,672 shares of the pipeline company’s stock worth $700,705,000 after acquiring an additional 88,640 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in TransCanada Corporation by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 5,853,121 shares of the pipeline company’s stock worth $272,744,000 after acquiring an additional 57,920 shares during the last quarter. 56.79% of the stock is owned by hedge funds and other institutional investors.
TransCanada Corporation (NYSE TRP) opened at 51.15 on Friday. The firm has a market cap of $44.55 billion, a price-to-earnings ratio of 53.34 and a beta of 0.67. The stock’s 50 day moving average is $50.44 and its 200-day moving average is $47.88. TransCanada Corporation has a 12 month low of $42.69 and a 12 month high of $51.81.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.4995 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s dividend payout ratio (DPR) is 215.12%.
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A number of research analysts have weighed in on TRP shares. BidaskClub raised shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research raised shares of 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. Finally, BMO Capital Markets boosted their target price on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. TransCanada Corporation has an average rating of “Buy” and a consensus price target of $66.43.
TransCanada Corporation 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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