AMP Capital Investors Ltd decreased its holdings in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,911,654 shares of the pipeline company’s stock after selling 21,648 shares during the quarter. TransCanada comprises approximately 0.8% of AMP Capital Investors Ltd’s portfolio, making the stock its 19th biggest holding. AMP Capital Investors Ltd owned approximately 0.33% of TransCanada worth $143,578,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Advisor Group Inc. raised its holdings in TransCanada by 30.4% during the 2nd quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock valued at $143,000 after acquiring an additional 699 shares during the period. Quantbot Technologies LP bought a new stake in TransCanada during the 3rd quarter valued at $178,000. Fairview Capital Investment Management LLC bought a new stake in TransCanada during the 2nd quarter valued at $200,000. FDx Advisors Inc. bought a new stake in TransCanada during the 3rd quarter valued at $221,000. Finally, Roberts Glore & Co. Inc. IL raised its holdings 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 valued at $216,000 after acquiring an additional 93 shares during the period. 57.32% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. TD Securities raised shares of TransCanada to a “buy” rating in a report on Wednesday, November 29th. Morgan Stanley assumed coverage on shares of TransCanada in a report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 target price on the stock. BidaskClub cut shares of TransCanada from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet cut shares of TransCanada from a “b” rating to a “c+” rating in a report on Thursday, November 9th. Finally, J P Morgan Chase & Co assumed coverage on shares of TransCanada in a report on Thursday, October 5th. They set an “overweight” rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $63.00.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.491 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.03%. TransCanada’s dividend payout ratio (DPR) is currently 125.16%.
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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