TransCanada Corporation (TRP) Coverage Initiated at Morgan Stanley
Analysts at Morgan Stanley initiated coverage on shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) in a research note issued to investors on Friday. The firm set an “equal weight” rating and a $53.00 price target on the pipeline company’s stock. Morgan Stanley’s price target would suggest a potential upside of 6.81% from the stock’s previous close.
A number of other research firms also recently weighed in on TRP. BMO Capital Markets upped their price target on TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. BidaskClub downgraded TransCanada Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Saturday, July 8th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. TransCanada Corporation has an average rating of “Buy” and a consensus price target of $64.75.
TransCanada Corporation (NYSE:TRP) opened at 49.62 on Friday. TransCanada Corporation has a 52-week low of $42.69 and a 52-week high of $51.85. The company has a market cap of $43.22 billion, a price-to-earnings ratio of 49.62 and a beta of 0.67. The stock has a 50 day moving average of $50.45 and a 200-day moving average of $48.15.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its holdings in shares of TransCanada Corporation by 30.4% in the 2nd quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock valued at $143,000 after buying an additional 699 shares during the last quarter. Exane Derivatives boosted its holdings in shares of TransCanada Corporation by 294.7% in the 2nd quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock valued at $192,000 after buying an additional 3,000 shares during the last quarter. Fairview Capital Investment Management LLC acquired a new stake in shares of TransCanada Corporation in the 2nd quarter valued at approximately $200,000. Roberts Glore & Co. Inc. IL boosted its holdings in shares of TransCanada Corporation by 2.1% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 4,527 shares of the pipeline company’s stock valued at $216,000 after buying an additional 93 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of TransCanada Corporation in the 1st quarter valued at approximately $282,000. 56.79% of the stock is owned by institutional investors.
About TransCanada Corporation
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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