TransCanada Sets New 12-Month High at $55.20 (TRP)
TransCanada (NYSE:TRP)’s share price reached a new 52-week high on Thursday , Analyst Ratings Network.com reports. The company traded as high as $55.20 and last traded at $54.84, with a volume of 629,690 shares changing hands. The stock had previously closed at $54.92.
TRP has been the subject of a number of recent research reports. 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. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.25.
The stock’s 50-day moving average is $51.27 and its 200-day moving average is $47.54. The company has a market cap of $38.813 billion and a price-to-earnings ratio of 24.47.
TransCanada (NYSE:TRP) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts expect that TransCanada will post $2.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Investors 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 3.50%. The ex-dividend date is Friday, September 26th.
TransCanada Corporation (NYSE:TRP) is a North American energy infrastructure company focused on natural gas pipelines, oil pipelines and energy.
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