Benedict Financial Advisors Inc. lifted its position in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 14.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,116 shares of the pipeline company’s stock after acquiring an additional 3,076 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in TransCanada Corporation were worth $1,242,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in TRP. Atlantic Trust Group LLC increased its holdings in TransCanada Corporation by 8.6% in the second quarter. Atlantic Trust Group LLC now owns 376,174 shares of the pipeline company’s stock valued at $17,932,000 after purchasing an additional 29,748 shares during the last quarter. Lipe & Dalton increased its holdings in TransCanada Corporation by 2.8% in the second quarter. Lipe & Dalton now owns 74,507 shares of the pipeline company’s stock valued at $3,552,000 after purchasing an additional 2,030 shares during the last quarter. Sentry Investments Corp. increased its holdings in TransCanada Corporation by 50.9% in the second quarter. Sentry Investments Corp. now owns 519,700 shares of the pipeline company’s stock valued at $32,128,000 after purchasing an additional 175,300 shares during the last quarter. Federated Investors Inc. PA increased its holdings in TransCanada Corporation by 8.6% in the second quarter. Federated Investors Inc. PA now owns 159,328 shares of the pipeline company’s stock valued at $7,595,000 after purchasing an additional 12,684 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in TransCanada Corporation by 0.5% in the second quarter. Franklin Resources Inc. now owns 4,425,323 shares of the pipeline company’s stock valued at $211,039,000 after acquiring an additional 23,376 shares during the period. Institutional investors own 56.36% of the company’s stock.
A number of research firms have issued reports on TRP. TD Securities raised TransCanada Corporation to a “buy” rating in a research note on Friday. BidaskClub cut TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Morgan Stanley started coverage on TransCanada Corporation in a research report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 price objective for the company. 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 research report on Monday, July 31st. Finally, TheStreet cut TransCanada Corporation from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. TransCanada Corporation currently has an average rating of “Buy” and an average target price of $65.13.
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TransCanada Corporation (NYSE TRP) traded up $0.11 during trading on Tuesday, reaching $49.48. The company’s stock had a trading volume of 1,334,800 shares, compared to its average volume of 1,040,815. The company has a market cap of $43,001.27, a price-to-earnings ratio of 21.56, a PEG ratio of 2.25 and a beta of 0.66. TransCanada Corporation has a 12-month low of $42.69 and a 12-month high of $51.85. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.48 and a current ratio of 0.51.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a $0.491 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, December 28th. TransCanada Corporation’s dividend payout ratio is presently 125.16%.
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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