Great West Life Assurance Co. Can decreased its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 4.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,157,330 shares of the pipeline company’s stock after selling 263,099 shares during the period. TransCanada Corporation comprises about 0.7% of Great West Life Assurance Co. Can’s investment portfolio, making the stock its 27th largest position. Great West Life Assurance Co. Can owned 0.59% of TransCanada Corporation worth $245,122,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Exane Derivatives raised its position in TransCanada Corporation by 294.7% in the second quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock valued at $192,000 after buying an additional 3,000 shares during the period. Mckinley Capital Management LLC Delaware bought a new position in TransCanada Corporation during the first quarter worth about $282,000. Investment House LLC bought a new position in TransCanada Corporation during the second quarter worth about $243,000. Bernicke Wealth Management Ltd. bought a new position in TransCanada Corporation during the first quarter worth about $261,000. Finally, Virtu Financial LLC bought a new position in TransCanada Corporation during the second quarter worth about $275,000. Hedge funds and other institutional investors own 56.12% of the company’s stock.
TransCanada Corporation (NYSE:TRP) traded up 0.43% during trading on Friday, reaching $49.29. The company had a trading volume of 556,490 shares. The firm has a market capitalization of $42.93 billion, a price-to-earnings ratio of 50.87 and a beta of 0.66. The stock has a 50 day moving average price of $49.64 and a 200 day moving average price of $47.53. TransCanada Corporation has a 12 month low of $42.69 and a 12 month high of $51.81.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.4995 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.05%. 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 (DPR) is 215.12%.
A number of research firms have recently issued reports on TRP. BMO Capital Markets boosted their target price on TransCanada Corporation from $72.00 to $73.00 and gave the company 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. Wolfe Research reaffirmed an “outperform” rating and set a $53.00 price objective on shares of TransCanada Corporation in a report on Friday, May 12th. BidaskClub downgraded TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, TheStreet upgraded TransCanada Corporation from a “c” rating to a “b-” rating in a research report on Friday, May 5th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $63.81.
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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