TransCanada Corporation (NYSE:TRP) (TSE:TRP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “TransCanada is a North American energy company. They are focused on natural gas transmission and power services. Their pipeline transports the majority of Western Canada’s natural gas production to growing markets in Canada and the United States. “

TRP has been the topic of several other research reports. J P Morgan Chase & Co started coverage on shares of TransCanada Corporation in a report on Thursday, October 5th. They issued an “overweight” rating on the stock. BidaskClub raised shares of TransCanada Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. BMO Capital Markets lifted their target price on shares of TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Finally, Morgan Stanley started coverage on shares of TransCanada Corporation in a report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $65.13.

Shares of TransCanada Corporation (NYSE TRP) opened at 49.89 on Friday. The firm has a 50-day moving average of $50.25 and a 200 day moving average of $48.70. TransCanada Corporation has a 12-month low of $42.69 and a 12-month high of $51.85. The stock has a market capitalization of $43.45 billion, a price-to-earnings ratio of 49.89 and a beta of 0.67.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Frontier Investment Mgmt Co. boosted its holdings in TransCanada Corporation by 2.1% during the second quarter. Frontier Investment Mgmt Co. now owns 307,879 shares of the pipeline company’s stock worth $14,677,000 after buying an additional 6,405 shares in the last quarter. Intl Fcstone Inc. purchased a new stake in TransCanada Corporation during the second quarter worth about $807,000. Advisory Services Network LLC boosted its holdings in TransCanada Corporation by 16.3% during the second quarter. Advisory Services Network LLC now owns 10,504 shares of the pipeline company’s stock worth $501,000 after buying an additional 1,475 shares in the last quarter. Capital Innovations LLC boosted its holdings in TransCanada Corporation by 13.7% during the second quarter. Capital Innovations LLC now owns 21,563 shares of the pipeline company’s stock worth $1,027,000 after buying an additional 2,590 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in TransCanada Corporation by 0.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 40,707 shares of the pipeline company’s stock worth $1,941,000 after buying an additional 216 shares in the last quarter. 56.77% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for TransCanada Corporation (NYSE:TRP)

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