DekaBank Deutsche Girozentrale Lowers Position in TransCanada Corporation (TRP)

DekaBank Deutsche Girozentrale cut its holdings in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 832,555 shares of the pipeline company’s stock after selling 2,600 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.10% of TransCanada Corporation worth $41,157,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. lifted its stake in TransCanada Corporation by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 8,225 shares of the pipeline company’s stock worth $392,000 after acquiring an additional 30 shares during the period. Roberts Glore & Co. Inc. IL lifted its stake in TransCanada Corporation by 2.1% in the second quarter. Roberts Glore & Co. Inc. IL now owns 4,527 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 93 shares during the period. Oppenheimer & Co. Inc. lifted its stake in TransCanada Corporation by 2.0% in the second quarter. Oppenheimer & Co. Inc. now owns 7,723 shares of the pipeline company’s stock worth $368,000 after acquiring an additional 153 shares during the period. Wetherby Asset Management Inc. lifted its stake in TransCanada Corporation by 1.5% in the second quarter. Wetherby Asset Management Inc. now owns 12,178 shares of the pipeline company’s stock worth $580,000 after acquiring an additional 182 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in TransCanada Corporation by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 40,707 shares of the pipeline company’s stock worth $1,941,000 after acquiring an additional 216 shares during the period. 56.36% of the stock is owned by institutional investors.

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TransCanada Corporation (NYSE TRP) traded up $0.06 during mid-day trading on Tuesday, hitting $49.54. 554,109 shares of the company’s stock traded hands, compared to its average volume of 1,040,815. The stock has a market capitalization of $43,001.27, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.66. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 1.68. TransCanada Corporation has a 1-year low of $42.69 and a 1-year high of $51.85.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a $0.491 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, December 28th. TransCanada Corporation’s payout ratio is currently 125.16%.

A number of research firms recently weighed in on TRP. BMO Capital Markets upped their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. BidaskClub lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Morgan Stanley started coverage on shares of TransCanada Corporation in a research report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 price target for the company. Zacks Investment Research lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Finally, TheStreet lowered shares of TransCanada Corporation from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $65.13.

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

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