Mackenzie Financial Corp Reduces Position in TransCanada Corporation (TRP)

Mackenzie Financial Corp lessened its position in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 20.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,505,509 shares of the pipeline company’s stock after selling 651,585 shares during the quarter. Mackenzie Financial Corp owned about 0.29% of TransCanada worth $123,847,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Roberts Glore & Co. Inc. IL grew its stake in TransCanada by 2.1% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 4,527 shares of the pipeline company’s stock worth $216,000 after buying an additional 93 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in TransCanada by 2.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 7,723 shares of the pipeline company’s stock worth $368,000 after acquiring an additional 153 shares during the period. Wetherby Asset Management Inc. lifted its position in TransCanada by 1.5% during the 2nd quarter. Wetherby Asset Management Inc. now owns 12,178 shares of the pipeline company’s stock worth $580,000 after acquiring an additional 182 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in TransCanada by 0.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 40,707 shares of the pipeline company’s stock worth $1,941,000 after acquiring an additional 216 shares during the period. Finally, SG Americas Securities LLC lifted its position in TransCanada by 2.9% during the 2nd quarter. SG Americas Securities LLC now owns 7,827 shares of the pipeline company’s stock worth $373,000 after acquiring an additional 222 shares during the period. Hedge funds and other institutional investors own 57.32% of the company’s stock.

TransCanada Corporation (TRP) traded up $0.53 during trading on Monday, reaching $48.56. The company’s stock had a trading volume of 1,066,500 shares, compared to its average volume of 1,052,110. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68. The firm has a market cap of $42,295.76, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.31 and a beta of 0.66. TransCanada Corporation has a 52 week low of $43.71 and a 52 week high of $51.85.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a $0.491 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.04%. TransCanada’s dividend payout ratio is currently 125.16%.

TRP has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on TransCanada in a research report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 price objective for the company. Zacks Investment Research raised TransCanada from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a research report on Wednesday, October 11th. TD Securities raised TransCanada to a “buy” rating in a research report on Friday, November 10th. TheStreet cut TransCanada from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. Finally, J P Morgan Chase & Co initiated coverage on TransCanada in a research report on Thursday, October 5th. They set an “overweight” rating for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. TransCanada currently has an average rating of “Buy” and an average target price of $63.00.

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TransCanada 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.

Institutional Ownership by Quarter for TransCanada (NYSE:TRP)

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