Nexus Investment Management Inc. raised its position in TransCanada Co. (NYSE:TRP) (TSE:TRP) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 392,879 shares of the pipeline company’s stock after purchasing an additional 5,313 shares during the quarter. TransCanada comprises 2.8% of Nexus Investment Management Inc.’s investment portfolio, making the stock its 17th biggest position. Nexus Investment Management Inc.’s holdings in TransCanada were worth $19,202,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Sit Investment Associates Inc. raised its stake in shares of TransCanada by 36.7% in the 4th quarter. Sit Investment Associates Inc. now owns 441,665 shares of the pipeline company’s stock valued at $21,483,000 after acquiring an additional 118,465 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of TransCanada in the 3rd quarter valued at approximately $214,000. Salem Investment Counselors Inc. raised its stake in shares of TransCanada by 17.3% in the 3rd quarter. Salem Investment Counselors Inc. now owns 53,300 shares of the pipeline company’s stock valued at $2,638,000 after acquiring an additional 7,850 shares during the period. Americafirst Capital Management LLC purchased a new stake in shares of TransCanada in the 3rd quarter valued at approximately $306,000. Finally, Moors & Cabot Inc. raised its stake in shares of TransCanada by 10.9% in the 3rd quarter. Moors & Cabot Inc. now owns 23,458 shares of the pipeline company’s stock valued at $1,159,000 after acquiring an additional 2,307 shares during the period. Institutional investors own 56.86% of the company’s stock.
A number of research firms have recently issued reports on TRP. Morgan Stanley raised shares of TransCanada from an “equal weight” rating to an “overweight” rating and set a $54.00 price target on the stock in a research note on Thursday. They noted that the move was a valuation call. Bank of America began coverage on shares of TransCanada in a research note on Tuesday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. began coverage on shares of TransCanada in a research note on Thursday, October 5th. They issued an “overweight” rating on the stock. TD Securities raised shares of TransCanada to a “buy” rating in a research note on Wednesday, November 29th. Finally, TheStreet downgraded shares of TransCanada from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. TransCanada has an average rating of “Buy” and an average target price of $59.25.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a dividend of $0.491 per share. This represents a $1.96 annualized dividend and a yield of 4.14%. The ex-dividend date is Thursday, December 28th. TransCanada’s payout ratio is currently 121.74%.
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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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