NN Investment Partners Holdings N.V. reduced its position in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 19.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 296,846 shares of the pipeline company’s stock after selling 72,323 shares during the period. NN Investment Partners Holdings N.V.’s holdings in TransCanada Corporation were worth $13,701,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC raised its stake in TransCanada Corporation by 34.8% in the third quarter. Jennison Associates LLC now owns 3,172,952 shares of the pipeline company’s stock worth $150,730,000 after buying an additional 818,715 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of TransCanada Corporation by 73.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 47,944 shares of the pipeline company’s stock valued at $2,165,000 after buying an additional 20,352 shares in the last quarter. Brookfield Asset Management Inc. raised its position in shares of TransCanada Corporation by 2.0% in the third quarter. Brookfield Asset Management Inc. now owns 6,133,454 shares of the pipeline company’s stock valued at $291,978,000 after buying an additional 120,800 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of TransCanada Corporation during the third quarter valued at approximately $99,563,000. Finally, Krasney Financial LLC bought a new position in TransCanada Corporation during the third quarter valued at about $5,069,000. Institutional investors own 56.54% of the company’s stock.
Shares of TransCanada Corporation (NYSE TRP) traded up 1.31% during trading on Friday, hitting $48.01. The stock had a trading volume of 1,365,774 shares. TransCanada Corporation has a 12-month low of $42.66 and a 12-month high of $49.77. The company has a market cap of $41.82 billion, a PE ratio of 101.50 and a beta of 0.67. The stock’s 50 day moving average is $46.83 and its 200-day moving average is $46.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be given a dividend of $0.4568 per share. This represents a $1.83 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, June 28th. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.42. TransCanada Corporation’s dividend payout ratio is 368.63%.
Several equities research analysts have weighed in on the company. Wolfe Research reissued an “outperform” rating and issued a $53.00 price target on shares of TransCanada Corporation in a report on Friday, May 12th. TheStreet raised TransCanada Corporation from a “c” rating to a “b-” rating in a report on Friday, May 5th. Zacks Investment Research downgraded TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, Wells Fargo & Company initiated coverage on TransCanada Corporation in a report on Friday, March 31st. They issued an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. TransCanada Corporation currently has an average rating of “Buy” and a consensus target price of $63.49.
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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