Shares of TransCanada Corp. (NYSE:TRP) rose 1.5% during mid-day trading on Thursday . The stock traded as high as $46.39 and last traded at $46.15, with a volume of 860,795 shares changing hands. The stock had previously closed at $45.45.

A number of analysts have recently weighed in on the company. TD Securities reissued a “buy” rating and issued a $63.00 price objective on shares of TransCanada Corp. in a research report on Tuesday, July 19th. Bank of America Corp. assumed coverage on TransCanada Corp. in a research report on Thursday. They issued a “buy” rating and a $45.45 price objective for the company. Goldman Sachs Group Inc. assumed coverage on TransCanada Corp. in a research report on Wednesday, July 20th. They issued a “buy” rating and a $70.00 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of TransCanada Corp. in a research report on Monday, June 13th. Finally, BMO Capital Markets reissued a “buy” rating on shares of TransCanada Corp. in a research report on Monday, June 20th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $58.65.

The firm’s 50-day moving average price is $46.62 and its 200-day moving average price is $41.96. The company’s market capitalization is $37.35 billion.

TransCanada Corp. (NYSE:TRP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company posted $0.56 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts expect that TransCanada Corp. will post $1.97 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in TransCanada Corp. stock. US Bancorp DE increased its position in TransCanada Corp. (NYSE:TRP) by 79.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 528,851 shares of the company’s stock after buying an additional 234,489 shares during the period. US Bancorp DE owned approximately 0.07% of TransCanada Corp. worth $17,235,000 as of its most recent SEC filing.

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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