Raymond James & Associates grew its holdings in TransCanada Co. (NYSE:TRP) (TSE:TRP) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,821 shares of the pipeline company’s stock after buying an additional 5,347 shares during the quarter. Raymond James & Associates’ holdings in TransCanada were worth $3,544,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Bollard Group LLC increased its stake in shares of TransCanada by 1.0% in the fourth quarter. Bollard Group LLC now owns 110,317 shares of the pipeline company’s stock valued at $5,366,000 after buying an additional 1,133 shares in the last quarter. K.J. Harrison & Partners Inc increased its stake in shares of TransCanada by 27.4% in the fourth quarter. K.J. Harrison & Partners Inc now owns 5,449 shares of the pipeline company’s stock valued at $266,000 after buying an additional 1,172 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of TransCanada by 20.4% in the third quarter. SG Americas Securities LLC now owns 9,426 shares of the pipeline company’s stock valued at $466,000 after buying an additional 1,599 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of TransCanada by 37.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,910 shares of the pipeline company’s stock valued at $288,000 after buying an additional 1,610 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of TransCanada by 30.6% in the third quarter. First Trust Advisors LP now owns 8,924 shares of the pipeline company’s stock valued at $441,000 after buying an additional 2,092 shares in the last quarter. Institutional investors own 58.84% of the company’s stock.
Shares of TRP stock opened at $41.99 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.47 and a quick ratio of 0.44. The stock has a market capitalization of $35,331.83, a P/E ratio of 17.64, a PEG ratio of 1.91 and a beta of 0.63. TransCanada Co. has a 12 month low of $39.16 and a 12 month high of $51.85.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a $0.5486 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 5.23%. 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 presently 92.86%.
A number of analysts have recently weighed in on TRP shares. Morgan Stanley upgraded TransCanada from an “equal weight” rating to an “overweight” rating and set a $54.00 target price for the company in a research note on Thursday, January 11th. They noted that the move was a valuation call. Citigroup lowered their target price on TransCanada from $71.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, March 28th. Zacks Investment Research lowered TransCanada from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Wells Fargo lowered TransCanada from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 22nd. Finally, Bank of America assumed coverage on TransCanada in a research report on Tuesday, January 9th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $58.40.
TransCanada Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation and individual facilities, interconnecting pipelines, and other businesses.
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