Stifel Financial Corp lowered its holdings in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,638 shares of the pipeline company’s stock after selling 4,056 shares during the quarter. Stifel Financial Corp’s holdings in TransCanada Corporation were worth $3,503,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Advisor Group Inc. raised its holdings in shares of TransCanada Corporation by 30.4% in the 2nd quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock valued at $143,000 after purchasing an additional 699 shares in the last quarter. Exane Derivatives raised its holdings in shares of TransCanada Corporation by 294.7% in the 2nd quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock valued at $192,000 after purchasing an additional 3,000 shares in the last quarter. Investment House LLC bought a new stake in shares of TransCanada Corporation in the 2nd quarter valued at about $243,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of TransCanada Corporation by 20.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,101 shares of the pipeline company’s stock valued at $243,000 after purchasing an additional 851 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. bought a new stake in shares of TransCanada Corporation in the 2nd quarter valued at about $262,000. Institutional investors and hedge funds own 56.79% of the company’s stock.

TRP has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. J P Morgan Chase & Co initiated coverage on shares of TransCanada Corporation in a research note on Thursday, October 5th. They set an “overweight” rating for the company. BidaskClub upgraded shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. BMO Capital Markets boosted their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. Finally, Morgan Stanley initiated coverage on shares of TransCanada Corporation in a research note on Friday, September 22nd. They set an “equal weight” rating and a $53.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.75.

TransCanada Corporation (TRP) opened at 49.47 on Wednesday. The company’s 50 day moving average is $50.28 and its 200 day moving average is $48.55. The company has a market cap of $43.09 billion, a price-to-earnings ratio of 49.47 and a beta of 0.67. TransCanada Corporation has a 1-year low of $42.69 and a 1-year high of $51.85.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.4995 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 4.04%. This is a boost from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s dividend payout ratio (DPR) is presently 232.56%.

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

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