TransCanada Receives Average Recommendation of “Hold” from Analysts (NYSE:TRP)
Shares of TransCanada (NYSE:TRP) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, AnalystRatingsNetwork.com reports. Eight analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $57.25.
TransCanada (NYSE:TRP) opened at 50.72 on Monday. TransCanada has a 52 week low of $42.21 and a 52 week high of $52.27. The stock’s 50-day moving average is $49.68 and its 200-day moving average is $46.67. The company has a market cap of $35.910 billion and a P/E ratio of 22.60.
TransCanada (NYSE:TRP) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.47 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.49 by $0.02. 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. On average, analysts predict that TransCanada will post $2.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, September 26th.
A number of analysts have recently weighed in on TRP shares. Analysts at RBC Capital raised their price target on shares of TransCanada from C$57.00 to C$61.00 in a research note on Friday, August 1st. They now have an “outperform” rating on the stock. Separately, analysts at TD Securities downgraded shares of TransCanada from a “buy” rating to a “hold” rating in a research note on Friday, August 1st. They now have a $56.00 price target on the stock, up previously from $55.00. Finally, analysts at Citigroup Inc. downgraded shares of TransCanada from an “outperform” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $58.00 price target on the stock.
TransCanada Corporation (NYSE:TRP) is a North American energy infrastructure company focused on natural gas pipelines, oil pipelines and energy.
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