Renaissance Technologies LLC raised its position in shares of TransCanada Co. (NYSE:TRP) (TSE:TRP) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,162,700 shares of the pipeline company’s stock after acquiring an additional 11,800 shares during the period. Renaissance Technologies LLC’s holdings in TransCanada were worth $56,557,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of TRP. Aevitas Wealth Management Inc. bought a new stake in shares of TransCanada during the fourth quarter worth approximately $117,000. Icon Wealth Partners LLC bought a new stake in shares of TransCanada during the fourth quarter worth approximately $162,000. Quantbot Technologies LP bought a new stake in shares of TransCanada during the third quarter worth approximately $178,000. MHI Funds LLC bought a new stake in shares of TransCanada during the fourth quarter worth approximately $208,000. Finally, GSA Capital Partners LLP bought a new stake in shares of TransCanada during the third quarter worth approximately $214,000. Institutional investors own 60.53% of the company’s stock.
Shares of TransCanada Co. (NYSE:TRP) opened at $44.21 on Wednesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.47 and a quick ratio of 0.44. TransCanada Co. has a 1 year low of $41.24 and a 1 year high of $51.85. The firm has a market cap of $39,000.00, a P/E ratio of 22.56, a PEG ratio of 1.91 and a beta of 0.64.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be given a $0.5486 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 4.96%. This is an increase from TransCanada’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Wednesday, March 28th. TransCanada’s payout ratio is presently 103.57%.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded TransCanada from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Friday, February 2nd. TD Securities upgraded shares of TransCanada to a “buy” rating in a research report on Wednesday, November 29th. Edward Jones upgraded shares of TransCanada from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. TheStreet upgraded shares of TransCanada from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Finally, Morgan Stanley dropped their price target on shares of TransCanada from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. TransCanada currently has a consensus rating of “Buy” and an average target price of $57.25.
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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