TransCanada Corp. (NYSE:TRP) shares 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. The stock had previously closed at $47.86.

Several research analysts have issued reports on the stock. Credit Suisse Group AG restated a “buy” rating on shares of TransCanada Corp. in a research report on Saturday, June 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $64.00 price target on shares of TransCanada Corp. in a research report on Monday, June 13th. Barclays PLC lifted their price target on shares of TransCanada Corp. from $33.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Monday, May 2nd. BMO Capital Markets restated a “buy” rating on shares of TransCanada Corp. in a research report on Monday, June 20th. Finally, TD Securities restated a “buy” rating and issued a $63.00 price target (up previously from $62.00) on shares of TransCanada Corp. in a research report on Wednesday, June 15th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. TransCanada Corp. has an average rating of “Buy” and a consensus target price of $59.75.

The company’s market capitalization is $38.21 billion. The stock’s 50 day moving average price is $46.32 and its 200 day moving average price is $41.02.

TransCanada Corp. (NYSE:TRP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The business earned $2.75 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts expect that TransCanada Corp. will post $1.98 earnings per share for the current fiscal year.

A number of institutional investors have made changes to their positions in TRP. US Bancorp DE raised its position 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 in the last quarter. Kayne Anderson Capital Advisors LP raised its position 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 in the last quarter. Dimensional Fund Advisors LP raised its position 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 in the last quarter. Finally, Schroder Investment Management Group raised its position 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 in 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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