Capital Innovations LLC Buys 2,590 Shares of TransCanada Corporation (TRP)

Capital Innovations LLC lifted its stake in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,563 shares of the pipeline company’s stock after purchasing an additional 2,590 shares during the quarter. TransCanada Corporation comprises about 3.9% of Capital Innovations LLC’s investment portfolio, making the stock its 2nd largest position. Capital Innovations LLC’s holdings in TransCanada Corporation were worth $1,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its stake in TransCanada Corporation by 0.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 40,707 shares of the pipeline company’s stock valued at $1,941,000 after acquiring an additional 216 shares during the last quarter. Roberts Glore & Co. Inc. IL grew its stake in TransCanada Corporation by 2.1% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 4,527 shares of the pipeline company’s stock valued at $216,000 after acquiring an additional 93 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in TransCanada Corporation by 9.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564,992 shares of the pipeline company’s stock valued at $169,647,000 after acquiring an additional 299,522 shares during the last quarter. Westover Capital Advisors LLC acquired a new stake in TransCanada Corporation in the 2nd quarter valued at about $608,000. Finally, Signet Financial Management LLC grew its stake in TransCanada Corporation by 1.3% in the 2nd quarter. Signet Financial Management LLC now owns 104,110 shares of the pipeline company’s stock valued at $4,963,000 after acquiring an additional 1,311 shares during the last quarter. 56.79% of the stock is currently owned by institutional investors and hedge funds.

TransCanada Corporation (TRP) traded up 0.800% during midday trading on Tuesday, hitting $49.654. 409,040 shares of the company’s stock traded hands. The company has a market capitalization of $43.25 billion, a PE ratio of 49.654 and a beta of 0.67. The company has a 50 day moving average of $50.27 and a 200-day moving average of $48.52. TransCanada Corporation has a 52 week low of $42.69 and a 52 week high of $51.85.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.4995 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 4.06%. This is a boost from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s dividend payout ratio (DPR) is currently 232.56%.

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A number of equities research analysts recently commented on the stock. J P Morgan Chase & Co assumed coverage on shares of TransCanada Corporation in a research note on Thursday, October 5th. They issued an “overweight” rating on the stock. Zacks Investment Research cut shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Morgan Stanley assumed coverage on shares of TransCanada Corporation in a research note on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price objective on the stock. BidaskClub cut shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, BMO Capital Markets increased their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.75.

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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