TransCanada Corporation (TRP) Shares Bought by Neuberger Berman Group LLC
Neuberger Berman Group LLC raised its holdings in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 277.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 277,571 shares of the pipeline company’s stock after purchasing an additional 204,040 shares during the period. Neuberger Berman Group LLC’s holdings in TransCanada Corporation were worth $13,232,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Exane Derivatives boosted its stake in shares of TransCanada Corporation by 294.7% in the second quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 3,000 shares during the last quarter. Investment House LLC acquired a new stake in shares of TransCanada Corporation in the second quarter worth approximately $243,000. Bernicke Wealth Management Ltd. acquired a new stake in shares of TransCanada Corporation in the first quarter worth approximately $261,000. Pinnacle Financial Partners Inc. acquired a new stake in shares of TransCanada Corporation in the second quarter worth approximately $262,000. Finally, Virtu Financial LLC acquired a new stake in shares of TransCanada Corporation in the second quarter worth approximately $275,000. 56.79% of the stock is currently owned by institutional investors.
TransCanada Corporation (NYSE TRP) opened at 51.15 on Friday. TransCanada Corporation has a 12 month low of $42.69 and a 12 month high of $51.81. The stock has a market cap of $44.55 billion, a P/E ratio of 53.34 and a beta of 0.67. The company’s 50-day moving average price is $50.44 and its 200-day moving average price is $47.88.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.4995 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s dividend payout ratio is 215.12%.
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A number of analysts have recently issued reports on TRP shares. Zacks Investment Research raised TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Saturday, July 8th. BidaskClub raised TransCanada Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, BMO Capital Markets lifted their price target on TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $66.43.
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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