TransCanada (TRP) Releases Quarterly Earnings, Misses Estimates By $0.02 EPS
TransCanada (NYSE:TRP) released its earnings data on Thursday. The company reported $0.47 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.49 by $0.02, American Banking News.com reports. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company posted $0.51 earnings per share. TransCanada’s revenue was up 11.2% compared to the same quarter last year.
A number of research firms have recently commented on TRP. Analysts at Citigroup Inc. downgraded shares of TransCanada from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $58.00 price target on the stock. On a related note, analysts at Credit Suisse downgraded shares of TransCanada from an “outperform” rating to a “neutral” rating in a research note on Monday. Finally, analysts at Scotiabank reiterated a “sector perform” rating on shares of TransCanada in a research note on Wednesday, July 16th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $53.75.
Shares of TransCanada (NYSE:TRP) traded down 0.57% on Thursday, hitting $50.17. The stock had a trading volume of 1,246,459 shares. TransCanada has a 52 week low of $42.21 and a 52 week high of $52.27. The stock has a 50-day moving average of $48.94 and a 200-day moving average of $46.29. The company has a market cap of $35.520 billion and a P/E ratio of 23.00.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.83%.
TransCanada Corporation (NYSE:TRP) is a North American energy infrastructure company focused on natural gas pipelines, oil pipelines and energy.
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