TransCanada (TRP) Price Target Raised to C$71.00
TRP has been the subject of several other research reports. National Bank Financial boosted their target price on shares of TransCanada from C$68.00 to C$69.00 and gave the company a sector perform rating in a research note on Wednesday, November 29th. J P Morgan Chase & Co boosted their target price on shares of TransCanada from C$74.00 to C$76.00 in a research note on Tuesday, December 5th. TD Securities upgraded shares of TransCanada from a buy rating to an action list buy rating and boosted their target price for the company from C$79.00 to C$81.00 in a research note on Friday, November 10th. Finally, CIBC boosted their target price on shares of TransCanada from C$70.00 to C$75.00 in a research note on Tuesday, November 21st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. TransCanada presently has a consensus rating of Buy and a consensus target price of C$73.44.
Shares of TransCanada (TSE:TRP) opened at C$62.99 on Friday. TransCanada has a 12 month low of C$58.62 and a 12 month high of C$65.24.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.50 annualized dividend and a dividend yield of 3.97%. TransCanada’s dividend payout ratio is currently 120.79%.
In other news, Director Patrick M. Keys sold 600 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of C$64.83, for a total transaction of C$38,898.00. Also, Director Mark Yeomans sold 1,400 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of C$62.65, for a total transaction of C$87,710.00. Insiders have sold 2,644 shares of company stock valued at $167,209 in the last 90 days.
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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