TransCanada Co. (TRP) Given Average Rating of “Buy” by Analysts
TransCanada Co. (TSE:TRP) (NYSE:TRP) has been assigned a consensus recommendation of “Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is C$71.75.
A number of equities research analysts recently weighed in on the stock. TD Securities upped their target price on shares of TransCanada from C$77.00 to C$79.00 and gave the stock a “buy” rating in a report on Monday, July 31st. BMO Capital Markets restated an “outperform” rating and issued a C$73.00 target price on shares of TransCanada in a report on Monday, July 31st. Scotiabank increased their price objective on shares of TransCanada from C$71.00 to C$72.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. Finally, CIBC increased their price objective on shares of TransCanada from C$68.00 to C$70.00 in a research note on Thursday, June 15th.
Shares of TransCanada (TSE:TRP) opened at 62.41 on Friday. The company has a 50 day moving average price of $62.96 and a 200-day moving average price of $62.84. The firm has a market cap of $54.36 billion and a P/E ratio of 51.32. TransCanada has a 52-week low of $57.36 and a 52-week high of $65.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.625 dividend. The ex-dividend date is Thursday, September 28th. This is an increase from TransCanada’s previous quarterly dividend of $0.48. This represents a $2.50 annualized dividend and a yield of 4.01%.
In related news, Director Derek Hudson Burney acquired 2,000 shares of the stock in a transaction dated Monday, June 19th. The shares were purchased at an average price of C$63.68 per share, for a total transaction of C$127,360.00. Also, Director Louis Bergeron acquired 500 shares of the stock in a transaction dated Thursday, June 22nd. The shares were bought at an average price of C$62.05 per share, for a total transaction of C$31,025.00. Over the last three months, insiders acquired 6,720 shares of company stock valued at $425,100 and sold 66,027 shares valued at $4,255,154.
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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