Public Sector Pension investment Board Purchases 338,400 Shares of TransCanada Corporation (TRP)

Public Sector Pension investment Board grew its position in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 24.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,725,008 shares of the pipeline company’s stock after acquiring an additional 338,400 shares during the quarter. TransCanada Corporation comprises 0.7% of Public Sector Pension investment Board’s holdings, making the stock its 16th largest holding. Public Sector Pension investment Board owned 0.20% of TransCanada Corporation worth $82,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. increased its holdings in shares of TransCanada Corporation by 0.4% during the second quarter. First Citizens Bank & Trust Co. now owns 8,225 shares of the pipeline company’s stock valued at $392,000 after acquiring an additional 30 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in TransCanada Corporation by 2.0% during the second quarter. Oppenheimer & Co. Inc. now owns 7,723 shares of the pipeline company’s stock worth $368,000 after buying an additional 153 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in TransCanada Corporation by 2.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,637 shares of the pipeline company’s stock worth $352,000 after buying an additional 154 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in TransCanada Corporation by 1.5% during the second quarter. Wetherby Asset Management Inc. now owns 12,178 shares of the pipeline company’s stock worth $580,000 after buying an additional 182 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in TransCanada Corporation by 2.9% during the second quarter. SG Americas Securities LLC now owns 7,827 shares of the pipeline company’s stock worth $373,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 56.79% of the company’s stock.

Shares of TransCanada Corporation (NYSE:TRP) traded up 1.02% during midday trading on Wednesday, reaching $51.46. The company had a trading volume of 376,507 shares. The company has a market capitalization of $44.82 billion, a P/E ratio of 53.00 and a beta of 0.67. The company has a 50-day moving average price of $50.45 and a 200 day moving average price of $48.15. TransCanada Corporation has a one year low of $42.69 and a one year high of $51.85.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.4995 per share. This is a boost from TransCanada Corporation’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 3.92%. TransCanada Corporation’s payout ratio is presently 215.12%.

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Several equities research analysts recently issued reports on TRP shares. BidaskClub upgraded TransCanada Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Zacks Investment Research upgraded TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Saturday, July 8th. Finally, BMO Capital Markets upped their price target on TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $66.43.

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.

Institutional Ownership by Quarter for TransCanada Corporation (NYSE:TRP)

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