Meag Munich Ergo Kapitalanlagegesellschaft MBH lowered its stake in TransCanada Co. (NYSE:TRP) (TSE:TRP) by 0.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 173,717 shares of the pipeline company’s stock after selling 1,283 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in TransCanada were worth $7,978,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Elkfork Partners LLC purchased a new stake in TransCanada during the fourth quarter valued at about $120,000. Worth Venture Partners LLC purchased a new stake in TransCanada during the fourth quarter valued at about $263,000. Aveo Capital Partners LLC purchased a new stake in TransCanada during the fourth quarter valued at about $223,000. First Republic Investment Management Inc. raised its stake in TransCanada by 16.5% in the fourth quarter. First Republic Investment Management Inc. now owns 5,065 shares of the pipeline company’s stock valued at $229,000 after buying an additional 719 shares in the last quarter. Finally, Searle & CO. purchased a new stake in TransCanada during the fourth quarter valued at about $280,000. 57.15% of the stock is currently owned by institutional investors.
Shares of TransCanada Co. (NYSE:TRP) traded down 0.38% during mid-day trading on Thursday, reaching $47.32. 959,309 shares of the company’s stock were exchanged. TransCanada Co. has a 52-week low of $41.09 and a 52-week high of $49.76. The company has a 50 day moving average price of $46.82 and a 200 day moving average price of $46.22. The firm has a market cap of $41.22 billion, a P/E ratio of 101.11 and a beta of 0.74.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be issued a $0.4568 dividend. This is a positive change from TransCanada’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, June 28th. This represents a $1.83 dividend on an annualized basis and a dividend yield of 3.86%. TransCanada’s dividend payout ratio is presently -81.16%.
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TRP has been the topic of several analyst reports. Zacks Investment Research lowered shares of TransCanada from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 25th. Credit Suisse Group AG reiterated an “outperform” rating on shares of TransCanada in a research report on Friday, January 27th. TheStreet upgraded shares of TransCanada from a “c” rating to a “b-” rating in a research report on Friday, May 5th. Wolfe Research reiterated an “outperform” rating and set a $53.00 price target on shares of TransCanada in a research report on Friday, May 12th. Finally, Wells Fargo & Co initiated coverage on shares of TransCanada in a research report on Friday, March 31st. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.49.
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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