TransCanada Corporation (TRP) Receives Average Recommendation of “Buy” from Analysts
Shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) have been assigned an average recommendation of “Buy” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $64.00.
Several research firms recently commented on TRP. Zacks Investment Research lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. BMO Capital Markets boosted their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. BidaskClub lowered shares of TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co began coverage on shares of TransCanada Corporation in a research note on Thursday, October 5th. They set an “overweight” rating for the company. Finally, TheStreet lowered shares of TransCanada Corporation from a “b” rating to a “c+” rating in a research note on Thursday.
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A number of institutional investors have recently modified their holdings of TRP. Dimensional Fund Advisors LP increased its stake in TransCanada Corporation by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 280,265 shares of the pipeline company’s stock valued at $12,934,000 after purchasing an additional 10,647 shares in the last quarter. Winslow Evans & Crocker Inc. increased its stake in TransCanada Corporation by 19.3% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 7,636 shares of the pipeline company’s stock valued at $363,000 after purchasing an additional 1,236 shares in 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 acquiring an additional 3,000 shares during the last quarter. Spirit of America Management Corp NY boosted its holdings in shares of TransCanada Corporation by 24.7% in the 2nd quarter. Spirit of America Management Corp NY now owns 34,850 shares of the pipeline company’s stock valued at $1,661,000 after acquiring an additional 6,900 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of TransCanada Corporation by 7.6% in the 2nd quarter. Aperio Group LLC now owns 195,743 shares of the pipeline company’s stock valued at $9,331,000 after acquiring an additional 13,786 shares during the last quarter. Institutional investors and hedge funds own 56.36% of the company’s stock.
Shares of TransCanada Corporation (NYSE TRP) traded up $0.70 on Monday, hitting $49.37. 2,343,900 shares of the stock traded hands, compared to its average volume of 1,036,264. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.51 and a quick ratio of 0.48. The stock has a market cap of $43,001.27, a PE ratio of 21.56, a PEG ratio of 2.25 and a beta of 0.66. TransCanada Corporation has a 52-week low of $42.69 and a 52-week high of $51.85.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a dividend of $0.491 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a yield of 3.98%. TransCanada Corporation’s payout ratio is 125.16%.
TransCanada Corporation Company Profile
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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