TransCanada Co. (TRP) Given Consensus Recommendation of “Buy” by Analysts
TransCanada Co. (NYSE:TRP) (TSE:TRP) has earned an average rating of “Buy” from the twelve research firms that are currently covering the stock. One equities research analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $64.06.
A number of research firms have recently weighed in on TRP. Credit Suisse Group AG reiterated an “outperform” rating on shares of TransCanada in a research note on Friday, January 27th. Wolfe Research reiterated an “outperform” rating and issued a $53.00 price objective on shares of TransCanada in a research note on Friday, May 12th. Zacks Investment Research lowered shares of TransCanada from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. TheStreet upgraded shares of TransCanada from a “c” rating to a “b-” rating in a research note on Friday, May 5th. Finally, Wells Fargo & Co began coverage on shares of TransCanada in a research note on Friday, March 31st. They issued an “outperform” rating on the stock.
A number of hedge funds have recently added to or reduced their stakes in TRP. Elkfork Partners LLC purchased a new stake in TransCanada during the fourth quarter valued at approximately $120,000. Worth Venture Partners LLC purchased a new stake in TransCanada during the fourth quarter valued at approximately $263,000. Mckinley Capital Management LLC Delaware purchased a new stake in TransCanada during the first quarter valued at approximately $282,000. First Republic Investment Management Inc. raised its stake in TransCanada by 16.5% in the fourth quarter. First Republic Investment Management Inc. now owns 5,065 shares of the pipeline company’s stock valued at $229,000 after buying an additional 719 shares in the last quarter. Finally, Bernicke Wealth Management Ltd. purchased a new stake in TransCanada during the first quarter valued at approximately $261,000. Institutional investors own 57.15% of the company’s stock.
Shares of TransCanada (NYSE:TRP) traded up 0.56% during midday trading on Monday, hitting $46.65. 1,021,631 shares of the stock were exchanged. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of 99.68 and a beta of 0.74. The firm’s 50-day moving average is $46.70 and its 200-day moving average is $46.12. TransCanada has a 12 month low of $40.22 and a 12 month high of $49.76.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be given a dividend of $0.4568 per share. This represents a $1.83 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Wednesday, June 28th. This is a positive change from TransCanada’s previous quarterly dividend of $0.42. TransCanada’s dividend payout ratio (DPR) is currently -81.16%.
TransCanada Company Profile
TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.
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