TransCanada Corporation (TRP) Position Cut by Catalyst Capital Advisors LLC
Catalyst Capital Advisors LLC cut its stake in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,618 shares of the pipeline company’s stock after selling 13,913 shares during the period. Catalyst Capital Advisors LLC’s holdings in TransCanada Corporation were worth $4,320,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its position in TransCanada Corporation by 28.2% in the first quarter. Canada Pension Plan Investment Board now owns 554,200 shares of the pipeline company’s stock valued at $25,521,000 after buying an additional 121,890 shares during the last quarter. Credit Agricole S A raised its position in TransCanada Corporation by 26.7% in the first quarter. Credit Agricole S A now owns 188,794 shares of the pipeline company’s stock valued at $8,713,000 after buying an additional 39,815 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in TransCanada Corporation during the second quarter valued at $1,078,000. Heronetta Management L.P. raised its position in TransCanada Corporation by 10.2% in the first quarter. Heronetta Management L.P. now owns 64,600 shares of the pipeline company’s stock valued at $3,965,000 after buying an additional 6,000 shares during the last quarter. Finally, Bernicke Wealth Management Ltd. purchased a new position in TransCanada Corporation during the first quarter valued at $261,000. Institutional investors own 56.12% of the company’s stock.
TransCanada Corporation (NYSE:TRP) opened at 49.29 on Friday. The stock has a 50 day moving average of $49.64 and a 200 day moving average of $47.53. TransCanada Corporation has a one year low of $42.69 and a one year high of $51.81. The firm has a market capitalization of $42.93 billion, a price-to-earnings ratio of 50.87 and a beta of 0.66.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.4995 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.05%. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, September 28th. TransCanada Corporation’s payout ratio is presently 215.12%.
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Several equities analysts have weighed in on TRP shares. TheStreet upgraded shares of TransCanada Corporation from a “c” rating to a “b-” rating in a report on Friday, May 5th. Zacks Investment Research lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. BidaskClub upgraded shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. 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, BMO Capital Markets boosted their target price on shares of TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, July 31st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus 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.
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