TransCanada Co. (TRP) Receives Consensus Rating of “Buy” from Analysts
Shares of TransCanada Co. (TSE:TRP) (NYSE:TRP) have been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$71.75.
TRP has been the subject of a number of research reports. CIBC boosted their price target on TransCanada from C$68.00 to C$70.00 in a research report on Thursday, June 15th. Scotiabank upped their target price on TransCanada from C$71.00 to C$72.00 and gave the stock an “outperform” rating in a research report on Thursday, June 15th. TD Securities upped their target price on TransCanada from C$77.00 to C$79.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a C$73.00 target price on shares of TransCanada in a research report on Monday, July 31st.
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TransCanada (TSE:TRP) traded down 0.65% during midday trading on Friday, reaching $61.23. The company’s stock had a trading volume of 2,230,153 shares. The company has a market capitalization of $53.33 billion and a P/E ratio of 50.35. TransCanada has a 1-year low of $57.36 and a 1-year high of $65.24. The company has a 50 day moving average of $62.88 and a 200-day moving average of $62.89.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.625 dividend. This is an increase from TransCanada’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, September 28th. This represents a $2.50 annualized dividend and a dividend yield of 4.08%.
In other news, Director Kevin E. Benson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of C$64.13, for a total value of C$641,300.00. Also, Director Louis Bergeron bought 500 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average cost of C$64.31 per share, with a total value of C$32,155.00. In the last ninety days, insiders bought 3,280 shares of company stock valued at $207,852 and sold 66,027 shares valued at $4,255,154.
TransCanada 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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