Addenda Capital Inc. lowered its position in shares of TransCanada Co. (NYSE:TRP) (TSE:TRP) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 960,178 shares of the pipeline company’s stock after selling 47,370 shares during the quarter. TransCanada makes up 3.3% of Addenda Capital Inc.’s holdings, making the stock its 10th largest holding. Addenda Capital Inc.’s holdings in TransCanada were worth $47,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc. raised its holdings in shares of TransCanada by 0.3% during the third quarter. TD Asset Management Inc. now owns 26,765,482 shares of the pipeline company’s stock valued at $1,319,815,000 after acquiring an additional 91,181 shares during the period. Vanguard Group Inc. raised its holdings in shares of TransCanada by 4.8% during the second quarter. Vanguard Group Inc. now owns 21,658,344 shares of the pipeline company’s stock valued at $1,032,453,000 after acquiring an additional 983,799 shares during the period. FMR LLC raised its holdings in shares of TransCanada by 16.2% during the second quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock valued at $802,753,000 after acquiring an additional 2,350,684 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of TransCanada by 1.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,014,698 shares of the pipeline company’s stock valued at $743,495,000 after acquiring an additional 201,002 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of TransCanada by 2.4% during the third quarter. Legal & General Group Plc now owns 5,996,170 shares of the pipeline company’s stock valued at $295,675,000 after acquiring an additional 143,049 shares during the period. Institutional investors and hedge funds own 56.86% of the company’s stock.

TRP has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of TransCanada in a research report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 price objective on the stock. TD Securities raised shares of TransCanada to a “buy” rating in a research report on Friday, November 10th. TheStreet downgraded shares of TransCanada from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. JPMorgan Chase & Co. initiated coverage on shares of TransCanada in a research report on Thursday, October 5th. They set an “overweight” rating on the stock. Finally, Zacks Investment Research downgraded shares of TransCanada from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $58.75.

Shares of TransCanada Co. (NYSE TRP) traded up $0.29 on Friday, reaching $47.76. 1,838,700 shares of the company were exchanged, compared to its average volume of 1,039,188. TransCanada Co. has a 52-week low of $45.07 and a 52-week high of $51.85. The stock has a market capitalization of $41,930.00, a P/E ratio of 29.66, a PEG ratio of 1.99 and a beta of 0.66. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.51 and a quick ratio of 0.48.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a dividend of $0.491 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, December 28th. TransCanada’s payout ratio is presently 121.74%.

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TransCanada 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.

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Institutional Ownership by Quarter for TransCanada (NYSE:TRP)

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