CIBC Asset Management Inc lessened its holdings in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 19.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,596,714 shares of the pipeline company’s stock after selling 1,104,374 shares during the quarter. TransCanada Corporation accounts for approximately 1.4% of CIBC Asset Management Inc’s portfolio, making the stock its 18th largest position. CIBC Asset Management Inc owned about 0.53% of TransCanada Corporation worth $226,591,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of TransCanada Corporation by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 280,265 shares of the pipeline company’s stock worth $12,934,000 after acquiring an additional 10,647 shares in the last quarter. Winslow Evans & Crocker Inc. grew its position in TransCanada Corporation by 19.3% during the second quarter. Winslow Evans & Crocker Inc. now owns 7,636 shares of the pipeline company’s stock valued at $363,000 after buying an additional 1,236 shares during the period. Exane Derivatives grew its position in TransCanada Corporation by 294.7% during the second quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock valued at $192,000 after buying an additional 3,000 shares during the period. Spirit of America Management Corp NY grew its position in TransCanada Corporation by 24.7% during the second quarter. Spirit of America Management Corp NY now owns 34,850 shares of the pipeline company’s stock valued at $1,661,000 after buying an additional 6,900 shares during the period. Finally, Aperio Group LLC grew its position in TransCanada Corporation by 7.6% during the second quarter. Aperio Group LLC now owns 195,743 shares of the pipeline company’s stock valued at $9,331,000 after buying an additional 13,786 shares during the period. Institutional investors and hedge funds own 56.36% of the company’s stock.
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Several equities analysts recently weighed in on TRP shares. Zacks Investment Research upgraded shares of TransCanada Corporation from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research report on Wednesday, October 11th. J P Morgan Chase & Co started coverage on shares of TransCanada Corporation in a research report on Thursday, October 5th. They set an “overweight” rating for the company. TheStreet lowered shares of TransCanada Corporation from a “b” rating to a “c+” rating in a research report on Thursday. BidaskClub upgraded shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, BMO Capital Markets increased their price target on shares of TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.13.
TransCanada Corporation (NYSE TRP) traded up $0.16 during midday trading on Monday, reaching $49.53. 714,656 shares of the company’s stock traded hands, compared to its average volume of 1,039,467. The stock has a market capitalization of $43,340.00, a P/E ratio of 21.56, a PEG ratio of 2.25 and a beta of 0.66. TransCanada Corporation has a 1-year low of $42.69 and a 1-year high of $51.85. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.48 and a current ratio of 0.51.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a dividend of $0.491 per share. This represents a $1.96 annualized dividend and a yield of 3.97%. The ex-dividend date is Thursday, December 28th. TransCanada Corporation’s dividend payout ratio (DPR) is presently 122.01%.
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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