TransCanada Corp. Forecasted to Post Q3 2016 Earnings of $0.53 Per Share (TRP)
TransCanada Corp. (NYSE:TRP) – Stock analysts at National Bank Financial issued their Q3 2016 earnings estimates for shares of TransCanada Corp. in a report issued on Wednesday. National Bank Financial analyst P. Kenny anticipates that the brokerage will post earnings of $0.53 per share for the quarter.
Several other brokerages also recently commented on TRP. Scotiabank reaffirmed an “outperform” rating and issued a $69.00 target price (up previously from $68.00) on shares of TransCanada Corp. in a research note on Friday, September 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $65.00 target price on shares of TransCanada Corp. in a research note on Tuesday, September 27th. Goldman Sachs Group Inc. began coverage on shares of TransCanada Corp. in a research note on Wednesday, July 20th. They issued a “buy” rating and a $70.00 target price for the company. TD Securities reaffirmed a “buy” rating and issued a $63.00 target price on shares of TransCanada Corp. in a research note on Tuesday, July 19th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $70.00 target price on shares of TransCanada Corp. in a research note on Friday, July 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. TransCanada Corp. has a consensus rating of “Buy” and a consensus target price of $58.73.
Shares of TransCanada Corp. (NYSE:TRP) opened at 46.04 on Monday. TransCanada Corp. has a 52 week low of $28.40 and a 52 week high of $48.52. The firm’s market cap is $36.83 billion. The firm’s 50 day moving average is $46.76 and its 200-day moving average is $44.06.
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TransCanada Corp. (NYSE:TRP) last issued its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The company earned $2.75 billion during the quarter, compared to analyst estimates of $2.58 billion. TransCanada Corp. had a negative net margin of 12.06% and a positive return on equity of 10.93%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS.
A number of hedge funds have recently made changes to their positions in the stock. Arrowgrass Capital Partners US LP purchased a new stake in shares of TransCanada Corp. during the first quarter worth approximately $36,008,000. Omega Advisors Inc. purchased a new stake in shares of TransCanada Corp. during the first quarter worth approximately $8,677,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of TransCanada Corp. during the first quarter worth approximately $2,948,000. AMP Capital Investors Ltd boosted its stake in shares of TransCanada Corp. by 11.4% in the first quarter. AMP Capital Investors Ltd now owns 1,136,869 shares of the company’s stock worth $44,577,000 after buying an additional 116,144 shares in the last quarter. Finally, TPH Asset Management LLC boosted its stake in shares of TransCanada Corp. by 3,454.4% in the first quarter. TPH Asset Management LLC now owns 451,264 shares of the company’s stock worth $17,739,000 after buying an additional 438,568 shares in the last quarter. Hedge funds and other institutional investors own 50.18% of the company’s stock.
The firm also recently announced a dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a dividend of $0.433 per share. This is a boost from TransCanada Corp.’s previous dividend of $0.39. The ex-dividend date is Wednesday, September 28th. TransCanada Corp.’s dividend payout ratio is presently -114.67%.
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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