TransCanada Corporation (NYSE:TRP) (TSE:TRP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “TransCanada is a North American energy company. They are focused on natural gas transmission and power services. Their pipeline transports the majority of Western Canada’s natural gas production to growing markets in Canada and the United States. “

Several other equities research analysts have also commented on TRP. BidaskClub lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. BMO Capital Markets boosted their price target on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. J P Morgan Chase & Co began coverage on shares of TransCanada Corporation in a report on Thursday, October 5th. They issued an “overweight” rating for the company. Finally, Morgan Stanley began coverage on shares of TransCanada Corporation in a report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price target for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. TransCanada Corporation has a consensus rating of “Buy” and a consensus price target of $65.13.

Shares of TransCanada Corporation (NYSE:TRP) traded down 1.72% during trading on Friday, hitting $49.03. 1,351,462 shares of the company were exchanged. TransCanada Corporation has a 12 month low of $42.69 and a 12 month high of $51.85. The firm has a market capitalization of $42.71 billion, a PE ratio of 49.03 and a beta of 0.67. The firm’s 50-day moving average price is $50.20 and its 200 day moving average price is $48.73.

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Several institutional investors have recently added to or reduced their stakes in TRP. FMR LLC grew its holdings in shares of 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 buying an additional 2,350,684 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 983,799 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of TransCanada Corporation by 69.1% during the second quarter. PNC Financial Services Group Inc. now owns 2,199,225 shares of the pipeline company’s stock worth $104,837,000 after buying an additional 898,862 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of TransCanada Corporation by 540.7% during the second quarter. Wells Fargo & Company MN now owns 543,312 shares of the pipeline company’s stock worth $25,900,000 after buying an additional 458,516 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of TransCanada Corporation by 86.0% during the second quarter. Forsta AP Fonden now owns 878,139 shares of the pipeline company’s stock worth $41,801,000 after buying an additional 406,000 shares in the last quarter. 56.77% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for TransCanada Corporation (NYSE:TRP)

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