Tdam USA Inc. maintained its position in shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, Holdings Channel reports. The firm owned 6,239 shares of the pipeline company’s stock at the end of the second quarter. Tdam USA Inc.’s holdings in TransCanada Corporation were worth $297,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Creative Planning increased its position in shares of TransCanada Corporation by 10.0% in the first quarter. Creative Planning now owns 12,331 shares of the pipeline company’s stock worth $569,000 after buying an additional 1,120 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of TransCanada Corporation by 5.6% in the first quarter. Capstone Asset Management Co. now owns 77,612 shares of the pipeline company’s stock worth $3,582,000 after buying an additional 4,150 shares in the last quarter. Barometer Capital Management Inc. bought a new position in shares of TransCanada Corporation during the first quarter worth approximately $6,867,000. Bollard Group LLC increased its position in shares of TransCanada Corporation by 63.9% in the first quarter. Bollard Group LLC now owns 107,000 shares of the pipeline company’s stock worth $4,938,000 after buying an additional 41,734 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of TransCanada Corporation by 14.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 55,488 shares of the pipeline company’s stock worth $2,553,000 after buying an additional 7,004 shares in the last quarter. Institutional investors and hedge funds own 56.12% of the company’s stock.

TransCanada Corporation (NYSE:TRP) opened at 49.77 on Thursday. The stock’s 50 day moving average is $49.52 and its 200-day moving average is $47.51. TransCanada Corporation has a 1-year low of $42.69 and a 1-year high of $51.81. The company has a market capitalization of $43.35 billion, a P/E ratio of 51.36 and a beta of 0.66.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.4995 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.01%. This is a boost 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 topic of a number of research analyst reports. Zacks Investment Research downgraded shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. TheStreet upgraded shares of TransCanada Corporation from a “c” rating to a “b-” rating in a research note on Friday, May 5th. Wolfe Research reiterated an “outperform” rating and set a $53.00 price objective on shares of TransCanada Corporation in a research note on Friday, May 12th. BidaskClub upgraded shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, BMO Capital Markets increased their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target 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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