Today, Parsons Capital Management Inc. RI reduces its investment in TransCanada Corp. (TRP)

Today, Parsons Capital Management Inc. RI reduces its investment in TransCanada Corp. (TRP)
Parsons Capital Management Inc. RI reduced its stake in TransCanada Corp. (NYSE:TRP) (TSE:TRP) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 27,785 shares of the company’s stock after selling 628 shares during the period. Parsons Capital Management Inc. RI’s holdings in TransCanada Corp. were worth $1,321,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TRP. Eqis Capital Management Inc. raised its stake in TransCanada Corp. by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 8,554 shares of the company’s stock valued at $387,000 after buying an additional 55 shares in the last quarter. Integrated Wealth Management raised its stake in TransCanada Corp. by 9.1% in the second quarter. Integrated Wealth Management now owns 2,228 shares of the company’s stock valued at $101,000 after buying an additional 186 shares in the last quarter. Bollard Group LLC raised its stake in TransCanada Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 38,936 shares of the company’s stock valued at $1,761,000 after buying an additional 189 shares in the last quarter. Forte Capital LLC ADV raised its stake in TransCanada Corp. by 0.6% in the third quarter. Forte Capital LLC ADV now owns 47,003 shares of the company’s stock valued at $2,235,000 after buying an additional 300 shares in the last quarter. Finally, Parkwood LLC raised its stake in TransCanada Corp. by 1.2% in the third quarter. Parkwood LLC now owns 33,436 shares of the company’s stock valued at $1,590,000 after buying an additional 408 shares in the last quarter. Institutional investors own 51.54% of the company’s stock.

Shares of TransCanada Corp. (NYSE:TRP) traded up 0.26% on Friday, reaching $45.53. The company’s stock had a trading volume of 118,649 shares. The stock’s market capitalization is $36.42 billion. TransCanada Corp. has a 1-year low of $28.40 and a 1-year high of $48.52. The company has a 50 day moving average of $45.39 and a 200 day moving average of $45.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be issued a dividend of $0.4221 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Wednesday, December 28th. TransCanada Corp.’s dividend payout ratio is presently -83.09%.

Several research firms have commented on TRP. Zacks Investment Research lowered TransCanada Corp. from a “strong-buy” rating to a “hold” rating in a research report on Friday. GMP Securities upgraded TransCanada Corp. from a “hold” rating to a “buy” rating in a research report on Monday. Credit Suisse Group AG set a $70.00 price objective on TransCanada Corp. and gave the stock a “buy” rating in a research report on Saturday, November 19th. TD Securities restated a “buy” rating and issued a $74.00 price objective (up previously from $67.00) on shares of TransCanada Corp. in a research report on Sunday, November 20th. Finally, Scotiabank restated an “outperform” rating and issued a $69.00 price objective on shares of TransCanada Corp. in a research report on Sunday, November 20th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $61.27.

About TransCanada Corp.

TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.

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