TransCanada Corporation (NYSE:TRP) (TSE:TRP) has earned a consensus rating of “Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $64.00.

TRP has been the topic of a number of analyst reports. BidaskClub upgraded TransCanada Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research upgraded TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Saturday, July 8th. Morgan Stanley initiated coverage on TransCanada Corporation in a research note on Friday. They issued an “equal weight” rating and a $53.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, July 31st.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. TD Asset Management Inc. boosted its position in TransCanada Corporation by 0.6% during the second quarter. TD Asset Management Inc. now owns 26,674,301 shares of the pipeline company’s stock worth $1,269,734,000 after purchasing an additional 148,257 shares in the last quarter. Wellington Management Group LLP boosted its position in TransCanada Corporation by 1.4% during the first quarter. Wellington Management Group LLP now owns 22,043,895 shares of the pipeline company’s stock worth $1,015,122,000 after purchasing an additional 313,483 shares in the last quarter. Vanguard Group Inc. boosted its position in TransCanada Corporation by 4.8% during the second quarter. Vanguard Group Inc. now owns 21,658,344 shares of the pipeline company’s stock worth $1,032,453,000 after purchasing an additional 983,799 shares in the last quarter. FMR LLC boosted its position in TransCanada Corporation by 16.2% during the second quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock worth $802,753,000 after purchasing an additional 2,350,684 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in TransCanada Corporation by 0.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,210,672 shares of the pipeline company’s stock worth $700,705,000 after purchasing an additional 88,640 shares in the last quarter. Institutional investors own 56.79% of the company’s stock.

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Shares of TransCanada Corporation (TRP) traded down 0.64% on Friday, hitting $49.62. The stock had a trading volume of 1,074,706 shares. The firm’s 50-day moving average is $50.45 and its 200-day moving average is $48.15. TransCanada Corporation has a one year low of $42.69 and a one year high of $51.85. The company has a market cap of $43.22 billion, a price-to-earnings ratio of 49.62 and a beta of 0.67.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.4995 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.03%. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, September 28th. TransCanada Corporation’s payout ratio is presently 215.12%.

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.

Analyst Recommendations for TransCanada Corporation (NYSE:TRP)

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