Fairview Capital Investment Management LLC Acquires New Position in TransCanada Corporation (TRP)
Fairview Capital Investment Management LLC acquired a new position in TransCanada Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,200 shares of the pipeline company’s stock, valued at approximately $200,000.
A number of other institutional investors have also bought and sold shares of TRP. Ameriprise Financial Inc. raised 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 worth $9,316,000 after acquiring an additional 6,129 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of 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 purchasing an additional 27,955 shares in the last quarter. Stifel Financial Corp grew its stake in shares of 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 purchasing an additional 43,976 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of TransCanada Corporation during the first quarter valued at approximately $351,000. Finally, Neuberger Berman Group LLC grew its stake in shares of 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 purchasing an additional 6,369 shares during the last quarter. 56.79% of the stock is currently owned by institutional investors.
TransCanada Corporation (TRP) traded up 0.04% during midday trading on Tuesday, hitting $49.25. 150,722 shares of the company were exchanged. The stock has a market capitalization of $42.90 billion, a PE ratio of 49.25 and a beta of 0.67. TransCanada Corporation has a one year low of $42.69 and a one year high of $51.85. The firm’s 50-day moving average price is $50.31 and its 200-day moving average price is $48.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors 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 4.06%. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s dividend payout ratio (DPR) is 232.56%.
TRP has been the subject of a number of research reports. BidaskClub lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. BMO Capital Markets upped 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. 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. Finally, Morgan Stanley assumed coverage on TransCanada Corporation in a research report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. TransCanada Corporation presently has a consensus rating of “Buy” and an average price target of $64.75.
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).
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.