Duff & Phelps Investment Management Co. cut its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,714,138 shares of the pipeline company’s stock after selling 16,615 shares during the period. TransCanada Corporation comprises about 1.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 26th largest position. Duff & Phelps Investment Management Co.’s holdings in TransCanada Corporation were worth $81,713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TRP. IFP Advisors Inc boosted its position in TransCanada Corporation by 10.3% in the first quarter. IFP Advisors Inc now owns 24,797 shares of the pipeline company’s stock valued at $1,144,000 after buying an additional 2,321 shares during the period. Miller Howard Investments Inc. NY boosted its position in TransCanada Corporation by 1.1% in the first quarter. Miller Howard Investments Inc. NY now owns 137,000 shares of the pipeline company’s stock valued at $6,323,000 after buying an additional 1,453 shares during the period. K.J. Harrison & Partners Inc boosted its position in TransCanada Corporation by 4.9% in the first quarter. K.J. Harrison & Partners Inc now owns 49,243 shares of the pipeline company’s stock valued at $2,269,000 after buying an additional 2,281 shares during the period. Janney Montgomery Scott LLC boosted its position in TransCanada Corporation by 5.5% in the first quarter. Janney Montgomery Scott LLC now owns 46,013 shares of the pipeline company’s stock valued at $2,124,000 after buying an additional 2,413 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its position in TransCanada Corporation by 9.0% in the first quarter. Duncker Streett & Co. Inc. now owns 10,713 shares of the pipeline company’s stock valued at $494,000 after buying an additional 883 shares during the period. 56.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of TransCanada Corporation (TRP) opened at 49.08 on Friday. The company has a market cap of $42.75 billion, a PE ratio of 50.65 and a beta of 0.66. TransCanada Corporation has a 12 month low of $42.69 and a 12 month high of $51.81. The firm’s 50 day moving average is $49.58 and its 200 day moving average is $47.52.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.4995 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, September 28th. This is a positive change from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s payout ratio is 215.12%.

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TRP has been the subject of several research analyst reports. TheStreet upgraded shares of TransCanada Corporation from a “c” rating to a “b-” rating in a research report on Friday, May 5th. Zacks Investment Research cut shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. BidaskClub upgraded shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Wolfe Research restated an “outperform” rating and issued a $53.00 price objective on shares of TransCanada Corporation in a research report on Friday, May 12th. Finally, BMO Capital Markets boosted their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $63.81.

About TransCanada Corporation

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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