PNC Financial Services Group Inc. Has $104.84 Million Stake in TransCanada Corporation (TRP)
PNC Financial Services Group Inc. raised its stake in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 69.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,199,225 shares of the pipeline company’s stock after buying an additional 898,862 shares during the quarter. PNC Financial Services Group Inc. owned about 0.25% of TransCanada Corporation worth $104,837,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of TRP. Bank of New York Mellon Corp grew its position in shares of TransCanada Corporation by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,121,840 shares of the pipeline company’s stock worth $51,774,000 after buying an additional 42,683 shares during the period. Sei Investments Co. grew its position in shares of TransCanada Corporation by 5.6% during the 1st quarter. Sei Investments Co. now owns 88,760 shares of the pipeline company’s stock worth $4,096,000 after buying an additional 4,714 shares during the period. Ameriprise Financial Inc. grew its position in shares of TransCanada Corporation by 3.1% during the 1st quarter. Ameriprise Financial Inc. now owns 201,822 shares of the pipeline company’s stock worth $9,316,000 after buying an additional 6,129 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of TransCanada Corporation by 19.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 170,918 shares of the pipeline company’s stock worth $7,888,000 after buying an additional 27,955 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of TransCanada Corporation by 2.3% during the 1st quarter. Baird Financial Group Inc. now owns 13,289 shares of the pipeline company’s stock worth $613,000 after buying an additional 300 shares during the period. Institutional investors own 56.79% of the company’s stock.
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Shares of TransCanada Corporation (TRP) traded down 0.16% during trading on Friday, hitting $51.28. The company had a trading volume of 443,714 shares. TransCanada Corporation has a 12-month low of $42.69 and a 12-month high of $51.85. The stock has a 50-day moving average of $50.48 and a 200 day moving average of $48.05. The stock has a market capitalization of $44.66 billion, a price-to-earnings ratio of 52.81 and a beta of 0.67.
The firm 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 $0.4995 dividend. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Thursday, September 28th. TransCanada Corporation’s payout ratio is presently 215.12%.
TRP has been the subject of several analyst reports. Zacks Investment Research upgraded TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Saturday, July 8th. BidaskClub upgraded TransCanada Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, BMO Capital Markets boosted their target price on TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. TransCanada Corporation has an average rating of “Buy” and an average price target of $66.43.
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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