Duff & Phelps Investment Management Co. grew its position in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 45.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,495,233 shares of the pipeline company’s stock after acquiring an additional 781,095 shares during the quarter. TransCanada Corporation comprises about 1.7% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 7th largest position. Duff & Phelps Investment Management Co. owned 0.29% of TransCanada Corporation worth $123,246,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in TRP. TD Asset Management Inc. grew its holdings in shares of TransCanada Corporation by 0.6% in the second quarter. TD Asset Management Inc. now owns 26,674,301 shares of the pipeline company’s stock worth $1,269,734,000 after purchasing an additional 148,257 shares during the last quarter. Vanguard Group Inc. grew its holdings in TransCanada Corporation by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 21,658,344 shares of the pipeline company’s stock worth $1,032,453,000 after acquiring an additional 983,799 shares in the last quarter. FMR LLC grew its holdings in TransCanada Corporation by 16.2% during the 2nd quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock worth $802,753,000 after acquiring an additional 2,350,684 shares in the last quarter. Legal & General Group Plc grew its holdings 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 in the last quarter. Finally, Franklin Resources Inc. grew its holdings in TransCanada Corporation by 0.5% during the 2nd quarter. Franklin Resources Inc. now owns 4,425,323 shares of the pipeline company’s stock worth $211,039,000 after acquiring an additional 23,376 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.
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TRP has been the subject of several analyst reports. Zacks Investment Research raised shares of TransCanada Corporation from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research report on Wednesday, October 11th. J P Morgan Chase & Co initiated coverage on shares of TransCanada Corporation in a research report on Thursday, October 5th. They set an “overweight” rating for the company. BidaskClub raised shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. BMO Capital Markets increased their price target on shares of TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Finally, Morgan Stanley began coverage on shares of TransCanada Corporation in a research report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $65.13.
TransCanada Corporation (NYSE:TRP) opened at $49.37 on Friday. The stock has a market cap of $42,391.57, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. TransCanada Corporation has a 1 year low of $42.69 and a 1 year high of $51.85. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.45 and a current ratio of 0.49.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a dividend of $0.491 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.98%. TransCanada Corporation’s payout ratio is 125.16%.
About TransCanada Corporation
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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