Ninepoint Partners LP trimmed its position in TransCanada Co. (NYSE:TRP) (TSE:TRP) by 49.0% in the 4th quarter, Holdings Channel reports. The firm owned 253,750 shares of the pipeline company’s stock after selling 243,722 shares during the quarter. TransCanada makes up about 0.9% of Ninepoint Partners LP’s portfolio, making the stock its 24th largest position. Ninepoint Partners LP’s holdings in TransCanada were worth $12,342,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in TRP. Quantbot Technologies LP purchased a new position in shares of TransCanada in the third quarter worth about $178,000. MHI Funds LLC purchased a new position in shares of TransCanada in the fourth quarter worth about $208,000. GSA Capital Partners LLP purchased a new position in shares of TransCanada in the third quarter worth about $214,000. FDx Advisors Inc. purchased a new position in shares of TransCanada in the third quarter worth about $221,000. Finally, Private Advisor Group LLC purchased a new position in shares of TransCanada in the third quarter worth about $259,000. Hedge funds and other institutional investors own 58.21% of the company’s stock.
TRP has been the subject of several research analyst reports. Morgan Stanley upgraded TransCanada from an “equal weight” rating to an “overweight” rating and set a $54.00 price objective for the company in a research note on Thursday, January 11th. They noted that the move was a valuation call. TD Securities upgraded TransCanada to a “buy” rating in a research note on Friday, November 10th. TheStreet cut TransCanada from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Zacks Investment Research upgraded TransCanada from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Saturday, January 20th. Finally, Bank of America began coverage on TransCanada in a report on Tuesday, January 9th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.25.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be issued a dividend of $0.5486 per share. This represents a $2.19 annualized dividend and a yield of 4.77%. This is a positive change from TransCanada’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Wednesday, March 28th. TransCanada’s dividend payout ratio (DPR) is 76.89%.
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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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