TransCanada Co. (NYSE:TRP) (TSE:TRP) has earned an average rating of “Buy” from the eleven analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $60.00.
Several research firms have issued reports on TRP. Zacks Investment Research lowered shares of TransCanada from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. TD Securities upgraded shares of TransCanada to a “buy” rating in a research report on Wednesday, November 29th. Morgan Stanley lifted their price target on shares of TransCanada from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. TheStreet lowered shares of TransCanada from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. Finally, Bank of America started coverage on shares of TransCanada in a research report on Tuesday, January 9th. They issued a “buy” rating on the stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TRP. Duff & Phelps Investment Management Co. grew its position in TransCanada by 45.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,495,233 shares of the pipeline company’s stock worth $123,246,000 after purchasing an additional 781,095 shares in the last quarter. Ninepoint Partners LP purchased a new position in TransCanada during the 3rd quarter worth approximately $24,590,000. Investec Asset Management LTD purchased a new position in TransCanada during the 3rd quarter worth approximately $20,392,000. Sit Investment Associates Inc. purchased a new position in TransCanada during the 3rd quarter worth approximately $15,976,000. Finally, The Manufacturers Life Insurance Company grew its position in TransCanada by 9.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564,992 shares of the pipeline company’s stock worth $169,647,000 after purchasing an additional 299,522 shares in the last quarter. Hedge funds and other institutional investors own 56.78% of the company’s stock.
TransCanada (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 9th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $1.94 billion. TransCanada had a net margin of 14.40% and a return on equity of 11.99%. analysts predict that TransCanada will post 2.32 EPS for the current fiscal year.
The company 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 annualized dividend and a yield of 4.23%. The ex-dividend date is Thursday, December 28th. TransCanada’s payout ratio is 126.45%.
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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