IFP Advisors Inc increased its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 25,608 shares of the pipeline company’s stock after buying an additional 811 shares during the period. IFP Advisors Inc’s holdings in TransCanada Corporation were worth $1,221,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Korea Investment CORP increased its stake in TransCanada Corporation by 9.5% in the second quarter. Korea Investment CORP now owns 471,795 shares of the pipeline company’s stock valued at $22,458,000 after buying an additional 41,122 shares during the last quarter. Sei Investments Co. increased its stake in TransCanada Corporation by 62.9% in the second quarter. Sei Investments Co. now owns 144,623 shares of the pipeline company’s stock valued at $6,894,000 after buying an additional 55,863 shares during the last quarter. Benedict Financial Advisors Inc. increased its stake in TransCanada Corporation by 16.3% in the second quarter. Benedict Financial Advisors Inc. now owns 22,040 shares of the pipeline company’s stock valued at $1,134,000 after buying an additional 3,083 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in TransCanada Corporation by 5.4% in the second quarter. Janney Montgomery Scott LLC now owns 48,518 shares of the pipeline company’s stock valued at $2,313,000 after buying an additional 2,505 shares during the last quarter. Finally, Loeb Partners Corp increased its stake in TransCanada Corporation by 28.6% in the second quarter. Loeb Partners Corp now owns 22,500 shares of the pipeline company’s stock valued at $1,073,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 56.12% of the company’s stock.

Shares of TransCanada Corporation (NYSE:TRP) opened at 50.08 on Wednesday. The company has a 50 day moving average price of $49.31 and a 200 day moving average price of $47.43. TransCanada Corporation has a 52 week low of $42.69 and a 52 week high of $51.81. The company has a market cap of $43.62 billion, a PE ratio of 51.90 and a beta of 0.66.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.4995 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Thursday, September 28th. This is a positive change from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s dividend payout ratio (DPR) is currently 215.12%.

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Several analysts have issued reports on the company. BidaskClub downgraded TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BMO Capital Markets upped their target price on TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Zacks Investment Research upgraded TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Saturday, July 8th. Wolfe Research reiterated an “outperform” rating and issued a $53.00 target price on shares of TransCanada Corporation in a report on Friday, May 12th. Finally, TheStreet upgraded TransCanada Corporation from a “c” rating to a “b-” rating in a report on Friday, May 5th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $63.81.

About TransCanada Corporation

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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Institutional Ownership by Quarter for TransCanada Corporation (NYSE:TRP)

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