Vaughan David Investments Inc. IL cut its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 98.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,082 shares of the pipeline company’s stock after selling 444,566 shares during the period. Vaughan David Investments Inc. IL’s holdings in TransCanada Corporation were worth $821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. TD Asset Management Inc. lifted its position in TransCanada Corporation by 0.6% in the second quarter. TD Asset Management Inc. now owns 26,674,301 shares of the pipeline company’s stock valued at $1,269,734,000 after acquiring an additional 148,257 shares during the last quarter. Vanguard Group Inc. lifted its position in TransCanada Corporation by 4.8% in 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 last quarter. FMR LLC lifted its position in TransCanada Corporation by 16.2% in 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 last quarter. Legal & General Group Plc lifted its position in TransCanada Corporation by 1.0% in 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 acquiring an additional 57,920 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in TransCanada Corporation by 0.5% in the second quarter. Franklin Resources Inc. now owns 4,425,323 shares of the pipeline company’s stock valued at $211,039,000 after acquiring an additional 23,376 shares during the last quarter. 56.36% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of TransCanada Corporation from $53.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday. TD Securities raised shares of TransCanada Corporation to a “buy” rating in a research report on Friday, November 10th. BidaskClub cut shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets boosted their price target on shares of TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Finally, TheStreet cut shares of TransCanada Corporation from a “b” rating to a “c+” rating in a report on Thursday, November 9th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.25.

Shares of TransCanada Corporation (NYSE TRP) traded down $0.48 during trading hours on Friday, hitting $48.98. 1,426,760 shares of the stock were exchanged, compared to its average volume of 1,042,400. TransCanada Corporation has a 1-year low of $43.71 and a 1-year 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 stock has a market capitalization of $43,250.00, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.26 and a beta of 0.66.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a $0.491 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.01%. TransCanada Corporation’s payout ratio is 122.78%.

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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.

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

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