Wells Fargo & Company MN boosted its holdings in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 540.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 543,312 shares of the pipeline company’s stock after purchasing an additional 458,516 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of TransCanada Corporation worth $25,900,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TRP. Bank of New York Mellon Corp grew its position in TransCanada Corporation by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,121,840 shares of the pipeline company’s stock worth $51,774,000 after purchasing an additional 42,683 shares during the last quarter. Sei Investments Co. grew its position in TransCanada Corporation by 5.6% during the 1st quarter. Sei Investments Co. now owns 88,760 shares of the pipeline company’s stock worth $4,096,000 after purchasing an additional 4,714 shares during the last quarter. Ameriprise Financial Inc. grew its position in TransCanada Corporation by 3.1% during the 1st quarter. Ameriprise Financial Inc. now owns 201,822 shares of the pipeline company’s stock worth $9,316,000 after purchasing an additional 6,129 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in TransCanada Corporation by 19.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 170,918 shares of the pipeline company’s stock worth $7,888,000 after purchasing an additional 27,955 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in TransCanada Corporation by 2.3% during the 1st quarter. Baird Financial Group Inc. now owns 13,289 shares of the pipeline company’s stock worth $613,000 after purchasing an additional 300 shares during the last quarter. 56.79% of the stock is currently owned by institutional investors.

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Shares of TransCanada Corporation (NYSE:TRP) opened at 49.62 on Friday. TransCanada Corporation has a 1-year low of $42.69 and a 1-year high of $51.85. The stock has a 50 day moving average of $50.45 and a 200 day moving average of $48.15. The firm has a market cap of $43.22 billion, a PE ratio of 49.62 and a beta of 0.67.

The company 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 $0.4995 dividend. 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. This represents a $2.00 annualized dividend and a yield of 4.03%. TransCanada Corporation’s dividend payout ratio (DPR) is currently 215.12%.

Several research analysts have issued reports on TRP shares. BidaskClub raised shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research raised shares of TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Saturday, July 8th. BMO Capital Markets raised 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. Finally, Morgan Stanley started coverage on shares of TransCanada Corporation in a research report on Friday. They set an “equal weight” rating and a $53.00 price objective on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $64.75.

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.

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

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