TransCanada Corp. (NYSE:TRP) has been assigned an average recommendation of “Buy” from the fifteen research firms that are presently covering the company. Four analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $60.37.

A number of equities analysts have commented on the stock. BMO Capital Markets reissued a “buy” rating and issued a $65.00 price target on shares of TransCanada Corp. in a research note on Tuesday, July 19th. Goldman Sachs Group Inc. began coverage on shares of TransCanada Corp. in a research note on Wednesday, July 20th. They issued a “buy” rating and a $70.00 price objective for the company. TD Securities reaffirmed a “buy” rating and issued a $63.00 price objective on shares of TransCanada Corp. in a research note on Tuesday, July 19th. Scotiabank reaffirmed an “outperform” rating and issued a $68.00 price objective (up previously from $66.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $70.00 price objective on shares of TransCanada Corp. in a research note on Friday, July 29th.

Shares of TransCanada Corp. (NYSE:TRP) opened at 46.99 on Thursday. The firm has a 50-day moving average of $46.80 and a 200 day moving average of $42.84. The company’s market capitalization is $37.59 billion. TransCanada Corp. has a 1-year low of $28.40 and a 1-year high of $48.34.

TransCanada Corp. (NYSE:TRP) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.52. TransCanada Corp. had a negative net margin of 12.06% and a positive return on equity of 10.93%. The business earned $2.75 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the company earned $0.56 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that TransCanada Corp. will post $1.95 earnings per share for the current year.

The business also recently disclosed a dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a $0.433 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This is a positive change from TransCanada Corp.’s previous dividend of $0.39. TransCanada Corp.’s dividend payout ratio is -115.33%.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Roberts Glore & Co. Inc. IL bought a new position in shares of TransCanada Corp. during the first quarter valued at approximately $202,000. CIBC World Markets Inc. raised its position in shares of TransCanada Corp. by 3.5% in the first quarter. CIBC World Markets Inc. now owns 12,141,311 shares of the company’s stock valued at $477,275,000 after buying an additional 413,304 shares during the last quarter. Addenda Capital Inc. raised its position in shares of TransCanada Corp. by 1.5% in the first quarter. Addenda Capital Inc. now owns 899,531 shares of the company’s stock valued at $35,900,000 after buying an additional 13,327 shares during the last quarter. IFP Advisors Inc raised its position in shares of TransCanada Corp. by 5,222.3% in the first quarter. IFP Advisors Inc now owns 20,544 shares of the company’s stock valued at $808,000 after buying an additional 20,158 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC raised its position in shares of TransCanada Corp. by 129.6% in the first quarter. Dynamic Advisors Solutions LLC now owns 92,768 shares of the company’s stock valued at $3,647,000 after buying an additional 52,365 shares during the last quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

TransCanada Corp. Company Profile

TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.

5 Day Chart for NYSE:TRP

Receive News & Ratings for TransCanada Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransCanada Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.