Private Advisor Group LLC raised its stake in TransCanada Corp. (NYSE:TRP) by 50.0% during the second quarter, Holdings Channel reports. The firm owned 6,144 shares of the company’s stock after buying an additional 2,048 shares during the period. Private Advisor Group LLC’s holdings in TransCanada Corp. were worth $282,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. 1832 Asset Management L.P. increased its stake in TransCanada Corp. by 7.9% in the first quarter. 1832 Asset Management L.P. now owns 15,465,137 shares of the company’s stock valued at $966,371,000 after buying an additional 1,127,208 shares during the last quarter. CIBC World Markets Inc. increased its stake in TransCanada Corp. by 3.5% in the first quarter. CIBC World Markets Inc. now owns 12,141,311 shares of the company’s stock valued at $477,275,000 after buying an additional 413,304 shares during the last quarter. JPMorgan Chase & Co. increased its stake in TransCanada Corp. by 159.5% in the second quarter. JPMorgan Chase & Co. now owns 11,846,868 shares of the company’s stock valued at $535,715,000 after buying an additional 7,281,918 shares during the last quarter. Energy Income Partners LLC increased its stake in TransCanada Corp. by 24.1% in the first quarter. Energy Income Partners LLC now owns 6,549,235 shares of the company’s stock valued at $257,451,000 after buying an additional 1,271,690 shares during the last quarter. Finally, Brookfield Asset Management Inc. increased its stake in TransCanada Corp. by 175.8% in the first quarter. Brookfield Asset Management Inc. now owns 4,043,475 shares of the company’s stock valued at $159,109,000 after buying an additional 2,577,275 shares during the last quarter. Institutional investors and hedge funds own 50.19% of the company’s stock.

Shares of TransCanada Corp. (NYSE:TRP) traded up 1.09% during midday trading on Thursday, reaching $48.17. The company had a trading volume of 213,712 shares. The company’s 50 day moving average price is $46.88 and its 200 day moving average price is $42.95. The stock’s market capitalization is $38.54 billion. TransCanada Corp. has a 52-week low of $28.40 and a 52-week high of $48.52.

TransCanada Corp. (NYSE:TRP) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.58 billion. TransCanada Corp. had a positive return on equity of 10.93% and a negative net margin of 12.06%. TransCanada Corp.’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. Equities research analysts expect that TransCanada Corp. will post $1.95 earnings per share for the current year.

The firm also recently announced a dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.433 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This is a positive change from TransCanada Corp.’s previous dividend of $0.39. TransCanada Corp.’s dividend payout ratio (DPR) is -115.33%.

Several research firms recently weighed in on TRP. Scotiabank restated an “outperform” rating and issued a $68.00 price objective (up from $66.00) on shares of TransCanada Corp. in a report on Sunday, July 31st. Credit Suisse Group AG restated a “buy” rating on shares of TransCanada Corp. in a report on Saturday, June 4th. BMO Capital Markets restated a “buy” rating and issued a $65.00 price objective on shares of TransCanada Corp. in a report on Tuesday, July 19th. TD Securities restated a “buy” rating and issued a $67.00 price objective (up from $63.00) on shares of TransCanada Corp. in a report on Sunday, July 31st. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $64.00 price objective on shares of TransCanada Corp. in a report on Monday, June 13th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $58.65.

TransCanada Corp. Company Profile

TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.

5 Day Chart for NYSE:TRP

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