TransCanada Corporation (TRP) Receives Average Rating of “Buy” from Analysts
Shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) have received a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $62.81.
Several brokerages have recently weighed in on TRP. Zacks Investment Research raised TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Saturday. Wolfe Research reissued an “outperform” rating and set a $53.00 target price on shares of TransCanada Corporation in a research report on Friday, May 12th. TheStreet raised TransCanada Corporation from a “c” rating to a “b-” rating in a research report on Friday, May 5th. Finally, Wells Fargo & Company began coverage on TransCanada Corporation in a research note on Friday, March 31st. They set an “outperform” rating on the stock.
TransCanada Corporation (NYSE TRP) traded down 0.52% during mid-day trading on Tuesday, hitting $48.11. The stock had a trading volume of 725,253 shares. TransCanada Corporation has a one year low of $42.69 and a one year high of $49.76. The company has a market cap of $41.90 billion, a PE ratio of 98.18 and a beta of 0.66. The firm’s 50-day moving average price is $47.05 and its 200 day moving average price is $46.68.
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 paid a dividend of $0.4568 per share. This represents a $1.83 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, June 28th. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.42. TransCanada Corporation’s dividend payout ratio (DPR) is currently 362.75%.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capstone Asset Management Co. increased its position in shares of TransCanada Corporation by 2.3% in the second quarter. Capstone Asset Management Co. now owns 79,392 shares of the pipeline company’s stock valued at $3,785,000 after buying an additional 1,780 shares during the period. Cardinal Capital Management Inc. increased its position in shares of TransCanada Corporation by 0.9% in the second quarter. Cardinal Capital Management Inc. now owns 1,051,960 shares of the pipeline company’s stock valued at $50,091,000 after buying an additional 9,292 shares during the period. Parsons Capital Management Inc. RI increased its position in shares of TransCanada Corporation by 1.1% in the first quarter. Parsons Capital Management Inc. RI now owns 27,544 shares of the pipeline company’s stock valued at $1,271,000 after buying an additional 294 shares during the period. Laurel Wealth Advisors Inc. bought a new position in shares of TransCanada Corporation during the first quarter valued at $334,000. Finally, Tower Research Capital LLC TRC increased its position in shares of TransCanada Corporation by 43.6% in the first quarter. Tower Research Capital LLC TRC now owns 13,618 shares of the pipeline company’s stock valued at $629,000 after buying an additional 4,136 shares during the period. Institutional investors own 56.61% of the company’s stock.
TransCanada Corporation 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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