Trade Report: Today, TransCanada Corp. (TRP) Position Decreased by Hennessy Advisors Inc.

Today, TransCanada Corp. (TRP) Position Decreased by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its position in shares of TransCanada Corp. (NYSE:TRP) (TSE:TRP) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,587,868 shares of the company’s stock after selling 104,000 shares during the period. TransCanada Corp. comprises about 2.1% of Hennessy Advisors Inc.’s portfolio, making the stock its 6th largest position. Hennessy Advisors Inc. owned 0.20% of TransCanada Corp. worth $75,519,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Dynamic Advisors Solutions LLC raised its stake in TransCanada Corp. by 5.0% in the second quarter. Dynamic Advisors Solutions LLC now owns 97,433 shares of the company’s stock valued at $4,406,000 after buying an additional 4,665 shares during the last quarter. Viking Fund Management LLC raised its stake in TransCanada Corp. by 5.3% in the second quarter. Viking Fund Management LLC now owns 200,000 shares of the company’s stock valued at $9,044,000 after buying an additional 10,000 shares during 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 during the last quarter. Pennsylvania Trust Co raised its stake in TransCanada Corp. by 9.3% in the second quarter. Pennsylvania Trust Co now owns 5,890 shares of the company’s stock valued at $266,000 after buying an additional 500 shares during the last quarter. Finally, Barometer Capital Management Inc. raised its stake in TransCanada Corp. by 52.1% in the second quarter. Barometer Capital Management Inc. now owns 700,550 shares of the company’s stock valued at $31,679,000 after buying an additional 239,850 shares during the last quarter. 55.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TransCanada Corp. (NYSE:TRP) traded up 0.24% during mid-day trading on Monday, hitting $45.61. 499,321 shares of the stock were exchanged. The company’s market cap is $36.49 billion. TransCanada Corp. has a 52-week low of $28.40 and a 52-week high of $48.52. The stock’s 50-day moving average price is $45.32 and its 200-day moving average price is $45.24.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be given a $0.4221 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.69 annualized dividend and a yield of 3.71%. TransCanada Corp.’s payout ratio is -83.09%.

TRP has been the topic of several analyst reports. Credit Suisse Group AG set a $70.00 target price on shares of TransCanada Corp. and gave the stock a “buy” rating in a research note on Saturday, November 19th. GMP Securities upgraded shares of TransCanada Corp. from a “hold” rating to a “buy” rating in a research note on Monday, November 21st. RBC Capital Markets reiterated an “outperform” rating and issued a $72.00 target price on shares of TransCanada Corp. in a research note on Sunday, November 20th. Zacks Investment Research upgraded shares of TransCanada Corp. from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a research note on Friday, November 4th. Finally, TD Securities reiterated a “buy” rating and issued a $67.00 target price (up previously from $63.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. TransCanada Corp. has a consensus rating of “Buy” and a consensus price target of $61.27.

TransCanada Corp. Company Profile

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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