Candriam Luxembourg S.C.A. decreased its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 13.4% during the second quarter, Holdings Channel reports. The firm owned 48,045 shares of the pipeline company’s stock after selling 7,443 shares during the period. Candriam Luxembourg S.C.A.’s holdings in TransCanada Corporation were worth $2,287,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc. raised its position in shares of TransCanada Corporation by 3.4% in the first quarter. TD Asset Management Inc. now owns 26,526,044 shares of the pipeline company’s stock valued at $1,220,638,000 after buying an additional 868,640 shares during the period. Wellington Management Group LLP raised its position in shares of TransCanada Corporation by 1.4% in the first quarter. Wellington Management Group LLP now owns 22,043,895 shares of the pipeline company’s stock valued at $1,015,122,000 after buying an additional 313,483 shares during the period. Vanguard Group Inc. raised its position in shares of TransCanada Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 20,674,545 shares of the pipeline company’s stock valued at $954,130,000 after buying an additional 1,194,936 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of TransCanada Corporation by 0.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,210,672 shares of the pipeline company’s stock valued at $700,705,000 after buying an additional 88,640 shares during the period. Finally, Legal & General Group Plc raised its position in shares of TransCanada Corporation by 2.0% in the first quarter. Legal & General Group Plc now owns 5,795,201 shares of the pipeline company’s stock valued at $266,686,000 after buying an additional 112,502 shares during the period. 56.12% of the stock is owned by hedge funds and other institutional investors.

Shares of TransCanada Corporation (TRP) opened at 49.08 on Friday. TransCanada Corporation has a 52-week low of $42.69 and a 52-week high of $51.81. The stock has a 50 day moving average of $49.58 and a 200 day moving average of $47.52. The firm has a market cap of $42.75 billion, a price-to-earnings ratio of 50.65 and a beta of 0.66.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.4995 per share. This represents a $2.00 annualized dividend and a yield of 4.07%. 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 presently 215.12%.

WARNING: “TransCanada Corporation (NYSE:TRP) Shares Sold by Candriam Luxembourg S.C.A.” was first reported by Daily Political and is the property of of Daily Political. If you are reading this article on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/08/11/transcanada-corporation-nysetrp-shares-sold-by-candriam-luxembourg-s-c-a.html.

Several equities analysts recently commented on TRP shares. TheStreet raised shares of TransCanada Corporation from a “c” rating to a “b-” rating in a research report on Friday, May 5th. BidaskClub lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Wolfe Research reissued an “outperform” rating and issued a $53.00 price objective on shares of TransCanada Corporation in a research report on Friday, May 12th. Finally, BMO Capital Markets increased their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target 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.

Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TransCanada Corporation (NYSE:TRP) (TSE:TRP).

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

Receive News & Ratings for TransCanada Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransCanada Corporation and related companies with MarketBeat.com's FREE daily email newsletter.