Dynamic Technology Lab Private Ltd acquired a new position in TransCanada Corporation (NYSE:TRP) (TSE:TRP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,366 shares of the pipeline company’s stock, valued at approximately $809,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc. increased its position in shares of TransCanada Corporation by 0.6% during the second quarter. TD Asset Management Inc. now owns 26,674,301 shares of the pipeline company’s stock worth $1,269,734,000 after acquiring an additional 148,257 shares during the period. Vanguard Group Inc. increased its holdings in TransCanada Corporation 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 buying an additional 983,799 shares during the period. FMR LLC increased its holdings in TransCanada Corporation 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 buying an additional 2,350,684 shares during the period. Legal & General Group Plc increased its holdings in TransCanada Corporation by 1.0% during the second quarter. Legal & General Group Plc now owns 5,853,121 shares of the pipeline company’s stock valued at $272,744,000 after buying an additional 57,920 shares during the period. Finally, Franklin Resources Inc. increased its holdings in TransCanada Corporation by 0.5% during the second quarter. Franklin Resources Inc. now owns 4,425,323 shares of the pipeline company’s stock valued at $211,039,000 after buying an additional 23,376 shares during the period. 55.56% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on TRP. Morgan Stanley began coverage on shares of TransCanada Corporation in a research note on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 target price for the company. Zacks Investment Research upgraded shares of TransCanada Corporation from a “hold” rating to a “strong-buy” rating and set a $57.00 target price for the company in a research note on Wednesday, October 11th. TD Securities upgraded shares of TransCanada Corporation to a “buy” rating in a research note on Friday, November 10th. TheStreet downgraded shares of TransCanada Corporation from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Finally, J P Morgan Chase & Co assumed coverage on shares of TransCanada Corporation in a research note on Thursday, October 5th. They issued an “overweight” rating for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. TransCanada Corporation currently has a consensus rating of “Buy” and a consensus target price of $63.00.

TransCanada Corporation (TRP) traded down $0.68 during midday trading on Thursday, reaching $49.58. 987,300 shares of the company were exchanged, compared to its average volume of 1,048,940. The firm has a market capitalization of $42,810.00, a P/E ratio of 21.95, a PEG ratio of 2.42 and a beta of 0.66. TransCanada Corporation has a 52 week low of $43.71 and a 52 week high of $51.85. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68.

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a yield of 3.96%. TransCanada Corporation’s dividend payout ratio is presently 122.01%.

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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.

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Institutional Ownership by Quarter for TransCanada Corporation (NYSE:TRP)

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