D.A. Davidson & CO. lowered its stake in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 0.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,429 shares of the pipeline company’s stock after selling 26 shares during the period. D.A. Davidson & CO.’s holdings in TransCanada Corporation were worth $306,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in shares of TransCanada Corporation by 3.1% in the first quarter. Ameriprise Financial Inc. now owns 201,822 shares of the pipeline company’s stock valued at $9,316,000 after buying an additional 6,129 shares during the period. Parametric Portfolio Associates LLC grew its position in TransCanada Corporation by 19.6% during the first 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 in the last quarter. Stifel Financial Corp increased its stake in TransCanada Corporation by 130.4% during the first quarter. Stifel Financial Corp now owns 77,694 shares of the pipeline company’s stock valued at $3,587,000 after acquiring an additional 43,976 shares during the period. SG Americas Securities LLC bought a new position in TransCanada Corporation during the first quarter valued at about $351,000. Finally, Neuberger Berman Group LLC increased its stake in TransCanada Corporation by 9.5% during the first quarter. Neuberger Berman Group LLC now owns 73,531 shares of the pipeline company’s stock valued at $3,393,000 after acquiring an additional 6,369 shares during the period. 56.79% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on TRP. Morgan Stanley began coverage on TransCanada Corporation in a report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price target for the company. BidaskClub downgraded TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BMO Capital Markets lifted their price objective on TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Finally, Zacks Investment Research raised TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.75.

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TransCanada Corporation (TRP) opened at 49.43 on Monday. The company has a market cap of $43.05 billion, a PE ratio of 49.43 and a beta of 0.67. TransCanada Corporation has a 52 week low of $42.69 and a 52 week high of $51.85. The firm’s 50-day moving average is $50.45 and its 200-day moving average is $48.15.

The company also recently disclosed 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 represents a $2.00 dividend on an annualized basis and a yield of 4.04%. This is a positive change from TransCanada Corporation’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, September 28th. TransCanada Corporation’s dividend payout ratio is currently 232.56%.

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

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