FY2018 EPS Estimates for TransCanada Corporation Boosted by National Bank Financial (TRP)
TransCanada Corporation (NYSE:TRP) (TSE:TRP) – Equities research analysts at National Bank Financial lifted their FY2018 earnings per share estimates for shares of TransCanada in a report released on Wednesday. National Bank Financial analyst P. Kenny now anticipates that the pipeline company will earn $2.50 per share for the year, up from their prior forecast of $2.49.
Several other analysts also recently weighed in on the stock. TD Securities raised shares of TransCanada to a “buy” rating in a research report on Wednesday, November 29th. Morgan Stanley lifted their price objective on shares of TransCanada from $53.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, November 17th. TheStreet cut shares of TransCanada from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Zacks Investment Research cut shares of TransCanada from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Finally, J P Morgan Chase & Co began coverage on shares of TransCanada in a research note on Thursday, October 5th. They set an “overweight” rating for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $63.00.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a dividend of $0.491 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Thursday, December 28th. TransCanada’s dividend payout ratio is presently 125.16%.
Institutional investors have recently added to or reduced their stakes in the company. Atlantic Trust Group LLC grew its holdings in shares of TransCanada by 8.6% during the second quarter. Atlantic Trust Group LLC now owns 376,174 shares of the pipeline company’s stock worth $17,932,000 after buying an additional 29,748 shares in the last quarter. Lipe & Dalton grew its holdings in shares of TransCanada by 2.8% during the second quarter. Lipe & Dalton now owns 74,507 shares of the pipeline company’s stock worth $3,552,000 after buying an additional 2,030 shares in the last quarter. Sentry Investments Corp. grew its holdings in shares of TransCanada by 50.9% during the second quarter. Sentry Investments Corp. now owns 519,700 shares of the pipeline company’s stock worth $32,128,000 after buying an additional 175,300 shares in the last quarter. Federated Investors Inc. PA grew its holdings in shares of TransCanada by 8.6% during the second quarter. Federated Investors Inc. PA now owns 159,328 shares of the pipeline company’s stock worth $7,595,000 after buying an additional 12,684 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of TransCanada by 0.5% during the second quarter. Franklin Resources Inc. now owns 4,425,323 shares of the pipeline company’s stock worth $211,039,000 after buying an additional 23,376 shares in the last quarter. 57.31% of the stock is owned by institutional investors and hedge funds.
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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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