Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in TransCanada Corporation (TRP)
Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 432,977 shares of the pipeline company’s stock after buying an additional 18,456 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TransCanada Corporation were worth $20,611,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in 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 in the last quarter. TD Asset Management Inc. increased its position in 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 in the last quarter. PNC Financial Services Group Inc. increased its position in TransCanada Corporation by 108.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,300,363 shares of the pipeline company’s stock valued at $60,011,000 after buying an additional 676,967 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of TransCanada Corporation by 14.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,253,500 shares of the pipeline company’s stock valued at $241,748,000 after buying an additional 653,500 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of TransCanada Corporation by 102.8% in the first quarter. Renaissance Technologies LLC now owns 1,221,103 shares of the pipeline company’s stock valued at $56,356,000 after buying an additional 618,900 shares during the last quarter. Hedge funds and other institutional investors own 56.79% of the company’s stock.
Shares of TransCanada Corporation (NYSE TRP) opened at 50.36 on Monday. TransCanada Corporation has a 52 week low of $42.69 and a 52 week high of $51.81. The firm has a market cap of $43.86 billion, a PE ratio of 52.62 and a beta of 0.66. The stock has a 50 day moving average price of $50.15 and a 200 day moving average price of $47.67.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.4995 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s payout ratio is currently 215.12%.
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Several equities research analysts have recently weighed in on TRP shares. BidaskClub raised TransCanada Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research raised TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Saturday, July 8th. TheStreet raised TransCanada Corporation from a “c” rating to a “b-” rating in a research note on Friday, May 5th. Wolfe Research reissued an “outperform” rating and issued a $53.00 price target on shares of TransCanada Corporation in a research note on Friday, May 12th. Finally, BMO Capital Markets increased their price target on TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. One equities 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.
TransCanada Corporation Company Profile
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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