Venturi Wealth Management LLC Grows Position in TransCanada Corporation (TRP)
Venturi Wealth Management LLC increased its stake in TransCanada Corporation (NYSE:TRP) (TSE:TRP) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,387 shares of the pipeline company’s stock after buying an additional 5,346 shares during the period. Venturi Wealth Management LLC’s holdings in TransCanada were worth $3,465,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Atlantic Trust Group LLC raised its stake in TransCanada by 8.6% in the second quarter. Atlantic Trust Group LLC now owns 376,174 shares of the pipeline company’s stock worth $17,932,000 after buying an additional 29,748 shares in the last quarter. Lipe & Dalton grew its holdings in TransCanada by 2.8% in the second quarter. Lipe & Dalton now owns 74,507 shares of the pipeline company’s stock worth $3,552,000 after purchasing an additional 2,030 shares during the period. Sentry Investments Corp. grew its holdings in TransCanada by 50.9% in the second quarter. Sentry Investments Corp. now owns 519,700 shares of the pipeline company’s stock worth $32,128,000 after purchasing an additional 175,300 shares during the period. Federated Investors Inc. PA grew its holdings in TransCanada by 8.6% in the second quarter. Federated Investors Inc. PA now owns 159,328 shares of the pipeline company’s stock worth $7,595,000 after purchasing an additional 12,684 shares during the period. Finally, Franklin Resources Inc. grew its holdings in TransCanada by 0.5% in the second quarter. Franklin Resources Inc. now owns 4,425,323 shares of the pipeline company’s stock worth $211,039,000 after purchasing an additional 23,376 shares during the period. 57.32% of the stock is owned by institutional investors.
TransCanada Corporation (NYSE:TRP) traded up $0.12 during trading hours on Wednesday, hitting $48.76. 542,700 shares of the stock were exchanged, compared to its average volume of 1,049,691. TransCanada Corporation has a 1 year low of $43.71 and a 1 year high of $51.85. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $42,365.44, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.32 and a beta of 0.66.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a dividend of $0.491 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Thursday, December 28th. TransCanada’s payout ratio is 125.16%.
TRP has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of TransCanada in a report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price objective on the stock. TD Securities upgraded shares of TransCanada to a “buy” rating in a report on Friday, November 10th. TheStreet cut shares of TransCanada from a “b” rating to a “c+” rating in a report on Thursday, November 9th. J P Morgan Chase & Co initiated coverage on shares of TransCanada in a report on Thursday, October 5th. They issued an “overweight” rating on the stock. Finally, Zacks Investment Research cut shares of TransCanada from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $63.00.
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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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