Equities researchers at J P Morgan Chase & Co began coverage on shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) in a note issued to investors on Thursday, The Fly reports. The firm set an “overweight” rating on the pipeline company’s stock.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley initiated coverage on TransCanada Corporation in a research note on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price target on the stock. BidaskClub raised TransCanada Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research raised 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. Finally, BMO Capital Markets upped their price target on TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $64.75.

Shares of TransCanada Corporation (TRP) traded up 0.25% during trading on Thursday, reaching $48.96. The company’s stock had a trading volume of 1,074,089 shares. The stock’s 50 day moving average is $50.27 and its 200 day moving average is $48.44. TransCanada Corporation has a one year low of $42.69 and a one year high of $51.85. The firm has a market cap of $42.64 billion, a P/E ratio of 48.96 and a beta of 0.67.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Frontier Investment Mgmt Co. grew its stake in shares of TransCanada Corporation by 2.1% in the second quarter. Frontier Investment Mgmt Co. now owns 307,879 shares of the pipeline company’s stock worth $14,677,000 after acquiring an additional 6,405 shares during the last quarter. Intl Fcstone Inc. purchased a new stake in shares of TransCanada Corporation in the second quarter worth $807,000. Advisory Services Network LLC grew its stake in shares of TransCanada Corporation by 16.3% in the second quarter. Advisory Services Network LLC now owns 10,504 shares of the pipeline company’s stock worth $501,000 after acquiring an additional 1,475 shares during the last quarter. Capital Innovations LLC grew its stake in shares of TransCanada Corporation by 13.7% in the second quarter. Capital Innovations LLC now owns 21,563 shares of the pipeline company’s stock worth $1,027,000 after acquiring an additional 2,590 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of TransCanada Corporation by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 40,707 shares of the pipeline company’s stock worth $1,941,000 after acquiring an additional 216 shares during the last quarter. 56.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

The Fly

Analyst Recommendations for TransCanada Corporation (NYSE:TRP)

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