TransCanada Corporation (TRP) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. lowered its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,422,057 shares of the pipeline company’s stock after selling 50,197 shares during the quarter. TransCanada Corporation comprises about 2.7% of Scotia Capital Inc.’s portfolio, making the stock its 6th biggest holding. Scotia Capital Inc. owned 0.39% of TransCanada Corporation worth $162,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. TD Asset Management Inc. lifted its holdings in TransCanada Corporation by 0.6% in the second quarter. TD Asset Management Inc. now owns 26,674,301 shares of the pipeline company’s stock worth $1,269,734,000 after purchasing an additional 148,257 shares during the period. Vanguard Group Inc. lifted its holdings in TransCanada Corporation by 4.8% in the second quarter. Vanguard Group Inc. now owns 21,658,344 shares of the pipeline company’s stock worth $1,032,453,000 after purchasing an additional 983,799 shares during the period. FMR LLC lifted its holdings in TransCanada Corporation by 16.2% in the second quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock worth $802,753,000 after purchasing an additional 2,350,684 shares during the period. Legal & General Group Plc lifted its holdings in TransCanada Corporation by 1.0% in the second quarter. Legal & General Group Plc now owns 5,853,121 shares of the pipeline company’s stock worth $272,744,000 after purchasing an additional 57,920 shares during the period. Finally, Franklin Resources Inc. lifted its holdings 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 worth $211,039,000 after purchasing an additional 23,376 shares during the period. 56.79% of the stock is owned by institutional investors and hedge funds.

Shares of TransCanada Corporation (NYSE TRP) traded up 0.800% during midday trading on Tuesday, reaching $49.654. 409,087 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $50.27 and a 200-day moving average of $48.52. The company has a market capitalization of $43.25 billion, a PE ratio of 49.654 and a beta of 0.67. TransCanada Corporation has a 1-year low of $42.69 and a 1-year high of $51.85.

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

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Several equities research analysts recently weighed in on TRP shares. Zacks Investment Research downgraded shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. J P Morgan Chase & Co started coverage on shares of TransCanada Corporation in a report on Thursday, October 5th. They issued an “overweight” rating for the company. BidaskClub raised shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. BMO Capital Markets upped their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Finally, Morgan Stanley started coverage on shares of TransCanada Corporation in a report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.75.

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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Institutional Ownership by Quarter for TransCanada Corporation (NYSE:TRP)

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