TransCanada Co. (NYSE:TRP) (TSE:TRP) has been assigned an average recommendation of “Buy” from the twelve analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $60.00.

TRP has been the topic of a number of research analyst reports. Wells Fargo downgraded shares of TransCanada from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 22nd. Morgan Stanley lowered their price objective on shares of TransCanada from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Zacks Investment Research downgraded shares of TransCanada from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Edward Jones raised shares of TransCanada from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Finally, Citigroup lowered their price objective on shares of TransCanada from $71.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 28th.

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Shares of TRP stock traded up $0.48 during trading hours on Thursday, reaching $43.48. 134,984 shares of the stock traded hands, compared to its average volume of 1,484,348. TransCanada has a 1-year low of $39.16 and a 1-year high of $51.85. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.47 and a quick ratio of 0.44. The firm has a market capitalization of $37,482.00, a P/E ratio of 18.07, a P/E/G ratio of 2.12 and a beta of 0.64.

TransCanada (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. TransCanada had a net margin of 23.40% and a return on equity of 12.33%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.96 billion. sell-side analysts predict that TransCanada will post 2.46 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a dividend of $0.5486 per share. The ex-dividend date is Wednesday, March 28th. This is an increase from TransCanada’s previous quarterly dividend of $0.49. This represents a $2.19 dividend on an annualized basis and a yield of 5.05%. TransCanada’s payout ratio is presently 89.92%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bollard Group LLC grew its position in TransCanada by 1.0% in the fourth quarter. Bollard Group LLC now owns 110,317 shares of the pipeline company’s stock worth $5,366,000 after acquiring an additional 1,133 shares in the last quarter. K.J. Harrison & Partners Inc grew its position in TransCanada by 27.4% in the fourth quarter. K.J. Harrison & Partners Inc now owns 5,449 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 1,172 shares in the last quarter. SG Americas Securities LLC grew its position in TransCanada by 20.4% in the third quarter. SG Americas Securities LLC now owns 9,426 shares of the pipeline company’s stock worth $466,000 after acquiring an additional 1,599 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in TransCanada by 37.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,910 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 1,610 shares in the last quarter. Finally, LPL Financial LLC grew its position in TransCanada by 28.5% in the fourth quarter. LPL Financial LLC now owns 9,720 shares of the pipeline company’s stock worth $473,000 after acquiring an additional 2,153 shares in the last quarter. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

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About TransCanada

TransCanada Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation and individual facilities, interconnecting pipelines, and other businesses.

Analyst Recommendations for TransCanada (NYSE:TRP)

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