TransCanada Co. (TRP) Given Consensus Rating of “Buy” by Analysts
TransCanada Co. (TSE:TRP) (NYSE:TRP) has earned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is C$71.75.
TRP has been the subject of several analyst reports. TD Securities raised their price objective on shares of TransCanada from C$77.00 to C$79.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. BMO Capital Markets reissued an “outperform” rating and issued a C$73.00 price objective on shares of TransCanada in a research note on Monday, July 31st. Scotiabank raised their price objective on shares of TransCanada from C$71.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Finally, CIBC raised their price objective on shares of TransCanada from C$68.00 to C$70.00 in a research note on Thursday, June 15th.
TransCanada (TRP) opened at 62.46 on Thursday. TransCanada has a one year low of $57.36 and a one year high of $65.24. The stock has a market cap of $54.40 billion and a P/E ratio of 51.37. The company’s 50-day moving average price is $62.30 and its 200-day moving average price is $62.91.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from TransCanada’s previous quarterly dividend of $0.48. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.00%.
In other news, Director Mark Yeomans sold 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of C$62.65, for a total transaction of C$87,710.00. Also, Director Stephanie Wilson sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of C$62.48, for a total transaction of C$62,480.00. Over the last ninety days, insiders have bought 3,280 shares of company stock worth $207,852 and have sold 66,027 shares worth $4,255,154.
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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