TransCanada Corp. (NYSE:TRP) shares hit a new 52-week high on Tuesday . The company traded as high as $47.50 and last traded at $47.17, with a volume of 364,919 shares changing hands. The stock had previously closed at $46.91.

A number of brokerages have weighed in on TRP. Scotiabank reaffirmed an “outperform” rating and issued a $68.00 price target (up previously from $66.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price target on shares of TransCanada Corp. in a research note on Tuesday, July 19th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of TransCanada Corp. in a research note on Saturday, June 4th. TD Securities reaffirmed a “buy” rating and issued a $67.00 price target (up previously from $63.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $64.00 price target on shares of TransCanada Corp. in a research note on Monday, June 13th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $59.75.

The stock’s market cap is $37.58 billion. The firm has a 50-day moving average price of $45.92 and a 200 day moving average price of $40.56.

TransCanada Corp. (NYSE:TRP) last released its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. During the same period in the prior year, the company posted $0.56 EPS. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.58 billion. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that TransCanada Corp. will post $1.92 EPS for the current year.

Several hedge funds recently made changes to their positions in TRP. Scheer Rowlett & Associates Investment Management Ltd. bought a new stake in shares of TransCanada Corp. during the fourth quarter valued at approximately $37,506,000. Kayne Anderson Capital Advisors LP increased its stake in shares of TransCanada Corp. by 94.9% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 503,100 shares of the company’s stock valued at $16,395,000 after buying an additional 245,000 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TransCanada Corp. by 33.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 195,511 shares of the company’s stock valued at $6,372,000 after buying an additional 48,564 shares during the period. US Bancorp DE increased its stake in shares of TransCanada Corp. by 79.7% in the fourth quarter. US Bancorp DE now owns 528,851 shares of the company’s stock valued at $17,235,000 after buying an additional 234,489 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of TransCanada Corp. by 255.5% in the fourth quarter. Schroder Investment Management Group now owns 81,129 shares of the company’s stock valued at $3,667,000 after buying an additional 58,311 shares during the period.

TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.

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