Duff & Phelps Investment Management Co. raised its position in TransCanada Corp. (NYSE:TRP) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 1,198,238 shares of the company’s stock after buying an additional 35,045 shares during the period. Duff & Phelps Investment Management Co.’s holdings in TransCanada Corp. were worth $54,184,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Energy Income Partners LLC raised its stake in shares of TransCanada Corp. by 24.1% in the first quarter. Energy Income Partners LLC now owns 6,549,235 shares of the company’s stock worth $257,451,000 after buying an additional 1,271,690 shares during the last quarter. Harvest Fund Advisors LLC raised its stake in TransCanada Corp. by 125.6% in the first quarter. Harvest Fund Advisors LLC now owns 2,083,561 shares of the company’s stock worth $81,905,000 after buying an additional 1,159,969 shares in the last quarter. Arrowgrass Capital Partners US LP purchased a new stake in TransCanada Corp. during the first quarter worth approximately $36,008,000. TPH Asset Management LLC raised its stake in TransCanada Corp. by 3,454.4% in the first quarter. TPH Asset Management LLC now owns 451,264 shares of the company’s stock worth $17,739,000 after buying an additional 438,568 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in TransCanada Corp. by 304.9% in the first quarter. Canada Pension Plan Investment Board now owns 415,310 shares of the company’s stock worth $16,395,000 after buying an additional 312,748 shares in the last quarter. Hedge funds and other institutional investors own 50.15% of the company’s stock.
TransCanada Corp. (NYSE:TRP) traded up 0.78% during mid-day trading on Wednesday, hitting $47.64. 952,209 shares of the stock were exchanged. The stock has a 50 day moving average of $46.80 and a 200-day moving average of $44.26. TransCanada Corp. has a 52-week low of $28.40 and a 52-week high of $48.52. The stock’s market cap is $38.11 billion.
TransCanada Corp. (NYSE:TRP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The company earned $2.75 billion during the quarter, compared to analyst estimates of $2.58 billion. TransCanada Corp. had a negative net margin of 12.06% and a positive return on equity of 10.93%. TransCanada Corp.’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. Equities analysts predict that TransCanada Corp. will post $1.94 EPS for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.433 per share. This is a positive change from TransCanada Corp.’s previous dividend of $0.39. The ex-dividend date is Wednesday, September 28th. TransCanada Corp.’s payout ratio is presently -114.67%.
A number of research firms recently commented on TRP. TD Securities reiterated a “buy” rating and set a $67.00 price target on shares of TransCanada Corp. in a report on Wednesday, October 12th. BMO Capital Markets reiterated an “outperform” rating and set a $65.00 price target on shares of TransCanada Corp. in a report on Tuesday, September 27th. Scotiabank reiterated an “outperform” rating and set a $69.00 price target (up from $68.00) on shares of TransCanada Corp. in a report on Friday, September 23rd. Bank of America Corp. began coverage on shares of TransCanada Corp. in a report on Thursday, September 1st. They set a “buy” rating and a $45.45 price target for the company. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $70.00 price target on shares of TransCanada Corp. in a report on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. TransCanada Corp. presently has a consensus rating of “Buy” and an average target price of $58.73.
About TransCanada Corp.
TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.
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