Buckingham Capital Management Inc. Raises Position in TransCanada Corporation (TRP)

Buckingham Capital Management Inc. increased its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,964 shares of the pipeline company’s stock after purchasing an additional 3,868 shares during the quarter. Buckingham Capital Management Inc.’s holdings in TransCanada Corporation were worth $2,954,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. First Citizens Bank & Trust Co. boosted its stake in shares of TransCanada Corporation by 0.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 8,225 shares of the pipeline company’s stock worth $392,000 after acquiring an additional 30 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of TransCanada Corporation by 2.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 7,723 shares of the pipeline company’s stock worth $368,000 after acquiring an additional 153 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of TransCanada Corporation by 2.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,637 shares of the pipeline company’s stock worth $352,000 after acquiring an additional 154 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of TransCanada Corporation by 1.5% during the 2nd quarter. Wetherby Asset Management Inc. now owns 12,178 shares of the pipeline company’s stock worth $580,000 after acquiring an additional 182 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of TransCanada Corporation by 2.9% during the 2nd quarter. SG Americas Securities LLC now owns 7,827 shares of the pipeline company’s stock worth $373,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 56.79% of the company’s stock.

Shares of TransCanada Corporation (TRP) traded up 0.165% during mid-day trading on Tuesday, hitting $51.735. 215,315 shares of the stock traded hands. The firm has a 50 day moving average of $50.41 and a 200 day moving average of $47.90. TransCanada Corporation has a 12 month low of $42.69 and a 12 month high of $51.84. The stock has a market cap of $45.06 billion, a price-to-earnings ratio of 53.947 and a beta of 0.67.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.4995 per share. The ex-dividend date is Thursday, September 28th. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 3.87%. TransCanada Corporation’s dividend payout ratio is 215.12%.

Several brokerages have recently weighed in on TRP. BidaskClub cut shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BMO Capital Markets lifted their price target 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, Zacks Investment Research upgraded shares of TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Saturday, July 8th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.43.

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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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