Shares of TransCanada Corp. (NYSE:TRP) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $48.31 and last traded at $48.15, with a volume of 249,992 shares changing hands. The stock had previously closed at $47.86.

TRP has been the subject of several recent research reports. BMO Capital Markets restated a “buy” rating and issued a $65.00 price target on shares of TransCanada Corp. in a research note on Friday, July 29th. Scotiabank restated an “outperform” rating and issued a $68.00 price target (up from $66.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. TD Securities reiterated a “buy” rating and set a $67.00 target price (up from $63.00) on shares of TransCanada Corp. in a research report on Sunday, July 31st. Goldman Sachs Group Inc. initiated coverage on TransCanada Corp. in a research report on Wednesday, July 20th. They set a “buy” rating and a $70.00 target price for the company. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $70.00 target price on shares of TransCanada Corp. in a research report on Friday, July 29th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.75.

The stock’s market capitalization is $38.54 billion. The stock has a 50-day moving average price of $46.09 and a 200 day moving average price of $40.72.

TransCanada Corp. (NYSE:TRP) last released its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.52. The firm earned $2.75 billion during the quarter, compared to analysts’ expectations of $2.58 billion. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. Equities analysts forecast that TransCanada Corp. will post $1.98 earnings per share for the current year.

Other institutional investors recently bought and sold shares of the company. Schroder Investment Management Group raised its position in TransCanada Corp. by 255.5% in the fourth quarter. Schroder Investment Management Group now owns 81,129 shares of the company’s stock worth $3,667,000 after buying an additional 58,311 shares during the last quarter. Dimensional Fund Advisors LP raised its position in TransCanada Corp. by 33.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 195,511 shares of the company’s stock worth $6,372,000 after buying an additional 48,564 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in TransCanada Corp. by 94.9% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 503,100 shares of the company’s stock worth $16,395,000 after buying an additional 245,000 shares during the last quarter. Finally, US Bancorp DE raised its position in TransCanada Corp. by 79.7% in the fourth quarter. US Bancorp DE now owns 528,851 shares of the company’s stock worth $17,235,000 after buying an additional 234,489 shares during the last quarter.

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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