Castleark Management LLC reduced its stake in shares of TransCanada Co. (NYSE:TRP) (TSE:TRP) by 85.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,790 shares of the pipeline company’s stock after selling 39,150 shares during the period. Castleark Management LLC’s holdings in TransCanada were worth $330,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of TRP. First Trust Advisors LP raised its stake in shares of TransCanada by 30.6% during the 3rd quarter. First Trust Advisors LP now owns 8,924 shares of the pipeline company’s stock worth $441,000 after buying an additional 2,092 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in TransCanada by 3.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 42,044 shares of the pipeline company’s stock valued at $2,079,000 after purchasing an additional 1,337 shares during the last quarter. FDx Advisors Inc. acquired a new position in TransCanada in the 3rd quarter valued at about $221,000. Sei Investments Co. raised its stake in TransCanada by 26.5% in the 3rd quarter. Sei Investments Co. now owns 182,928 shares of the pipeline company’s stock valued at $9,042,000 after purchasing an additional 38,305 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of TransCanada by 2.7% during the 3rd quarter. Comerica Bank now owns 98,122 shares of the pipeline company’s stock valued at $4,675,000 after acquiring an additional 2,572 shares during the last quarter. Institutional investors own 58.84% of the company’s stock.
A number of brokerages have recently issued reports on TRP. TheStreet upgraded TransCanada from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Morgan Stanley set a $50.00 price target on TransCanada and gave the stock a “buy” rating in a report on Friday, March 16th. Edward Jones upgraded TransCanada from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Zacks Investment Research upgraded TransCanada from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, January 11th. Finally, Bank of America started coverage on TransCanada in a research report on Tuesday, January 9th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. TransCanada currently has a consensus rating of “Buy” and an average target price of $58.40.
TransCanada stock traded up $0.13 during mid-day trading on Thursday, hitting $42.23. The company’s stock had a trading volume of 1,124,406 shares, compared to its average volume of 1,515,286. TransCanada Co. has a 52-week low of $39.16 and a 52-week high of $51.85. The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 1.70. The company has a market cap of $37,243.10, a P/E ratio of 17.74, a P/E/G ratio of 2.10 and a beta of 0.64.
TransCanada (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. TransCanada had a return on equity of 12.33% and a net margin of 23.40%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.96 billion. equities analysts forecast that TransCanada Co. will post 2.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a $0.5486 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.19 dividend on an annualized basis and a yield of 5.20%. This is a positive change from TransCanada’s previous quarterly dividend of $0.49. TransCanada’s dividend payout ratio (DPR) is 89.92%.
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TransCanada Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation and individual facilities, interconnecting pipelines, and other businesses.
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