Candriam Luxembourg S.C.A. Has $2,473,000 Position in TransCanada Corp. (TRP)
Candriam Luxembourg S.C.A. increased its stake in TransCanada Corp. (NYSE:TRP) by 14.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 54,944 shares of the company’s stock after buying an additional 6,904 shares during the period. Candriam Luxembourg S.C.A.’s holdings in TransCanada Corp. were worth $2,473,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in TransCanada Corp. during the first quarter worth approximately $117,000. Pennsylvania Trust Co boosted its position in TransCanada Corp. by 9.3% in the second quarter. Pennsylvania Trust Co now owns 5,890 shares of the company’s stock worth $266,000 after buying an additional 500 shares in the last quarter. Eqis Capital Management Inc. boosted its position in TransCanada Corp. by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 8,554 shares of the company’s stock worth $387,000 after buying an additional 55 shares in the last quarter. Avalon Advisors LLC acquired a new position in TransCanada Corp. during the first quarter worth approximately $430,000. Finally, AMF Pensionsforsakring AB boosted its position in TransCanada Corp. by 40.2% in the first quarter. AMF Pensionsforsakring AB now owns 12,900 shares of the company’s stock worth $512,000 after buying an additional 3,700 shares in the last quarter. 50.19% of the stock is currently owned by institutional investors.
TransCanada Corp. (NYSE:TRP) traded down 0.08% during mid-day trading on Friday, reaching $47.56. The company’s stock had a trading volume of 664,251 shares. The firm’s market capitalization is $38.05 billion. TransCanada Corp. has a 52 week low of $28.40 and a 52 week high of $48.52. The company’s 50-day moving average price is $47.03 and its 200 day moving average price is $43.46.
TransCanada Corp. (NYSE:TRP) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.52. The business earned $2.75 billion during the quarter, compared to the consensus estimate of $2.58 billion. TransCanada Corp. had a negative net margin of 12.06% and a positive return on equity of 10.93%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. On average, equities analysts forecast that TransCanada Corp. will post $1.95 earnings per share for the current fiscal year.
The company also recently declared a dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.433 per share. The ex-dividend date is Wednesday, September 28th. This is an increase from TransCanada Corp.’s previous dividend of $0.39. TransCanada Corp.’s dividend payout ratio (DPR) is currently -115.33%.
A number of research analysts have recently commented on the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of TransCanada Corp. in a research note on Saturday, June 4th. BMO Capital Markets reiterated a “buy” rating and issued a $65.00 price target on shares of TransCanada Corp. in a report on Friday, July 29th. TD Securities reiterated a “buy” rating and issued a $63.00 price target (up previously from $62.00) on shares of TransCanada Corp. in a report on Wednesday, June 15th. Scotiabank reiterated an “outperform” rating and issued a $69.00 price target (up previously from $68.00) on shares of TransCanada Corp. in a report on Friday, September 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $64.00 price target 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 given a buy rating to the company. TransCanada Corp. currently has a consensus rating of “Buy” and an average target price of $58.73.
About TransCanada Corp.
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.
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