Peloton Wealth Strategists lowered its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,700 shares of the pipeline company’s stock after selling 900 shares during the quarter. Peloton Wealth Strategists’ holdings in TransCanada Corporation were worth $1,130,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. TD Asset Management Inc. lifted 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 acquiring an additional 148,257 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of TransCanada Corporation by 1.4% in the first quarter. Wellington Management Group LLP now owns 22,043,895 shares of the pipeline company’s stock worth $1,015,122,000 after acquiring an additional 313,483 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of TransCanada Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 20,674,545 shares of the pipeline company’s stock worth $954,130,000 after acquiring an additional 1,194,936 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of TransCanada Corporation by 0.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,210,672 shares of the pipeline company’s stock worth $700,705,000 after acquiring an additional 88,640 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of TransCanada Corporation by 1.0% in the second 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 during the last quarter. 56.79% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on the stock. BMO Capital Markets increased their target price on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Saturday, July 8th. Finally, BidaskClub lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. TransCanada Corporation currently has a consensus rating of “Buy” and a consensus target price of $66.43.

TransCanada Corporation (TRP) traded up 0.02% during mid-day trading on Tuesday, reaching $51.66. 147,258 shares of the company’s stock were exchanged. TransCanada Corporation has a one year low of $42.69 and a one year high of $51.84. The stock has a market cap of $45.00 billion, a price-to-earnings ratio of 53.87 and a beta of 0.67. The stock has a 50-day moving average of $50.41 and a 200-day moving average of $47.90.

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 given a $0.4995 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 annualized dividend and a yield of 3.87%. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s payout ratio is presently 215.12%.

ILLEGAL ACTIVITY NOTICE: This article was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://www.thecerbatgem.com/2017/09/12/peloton-wealth-strategists-reduces-stake-in-transcanada-corporation-trp.html.

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.

Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TransCanada Corporation (NYSE:TRP) (TSE:TRP).

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

Receive News & Stock Ratings for TransCanada Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransCanada Corporation and related stocks with our FREE daily email newsletter.