TransCanada Corporation (TRP) Cut to “C+” at TheStreet
Other analysts have also recently issued reports about the company. TD Securities raised TransCanada Corporation to a buy rating in a research report on Friday. BidaskClub raised TransCanada Corporation from a hold rating to a buy rating in a research report on Sunday, July 16th. Morgan Stanley initiated coverage on TransCanada Corporation in a research report on Friday, September 22nd. They issued an equal weight rating and a $53.00 price target on the stock. Zacks Investment Research cut TransCanada Corporation from a buy rating to a hold rating in a research report on Wednesday, October 4th. Finally, BMO Capital Markets boosted their price target on TransCanada Corporation from $72.00 to $73.00 and gave the stock an outperform rating in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $65.13.
Shares of TransCanada Corporation (NYSE TRP) opened at $49.37 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $42,391.57, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. TransCanada Corporation has a 12-month low of $42.69 and a 12-month high of $51.85.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.491 dividend. 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 currently 125.16%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its holdings in TransCanada Corporation by 30.4% in the 2nd quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock worth $143,000 after acquiring an additional 699 shares during the last quarter. Quantbot Technologies LP purchased a new position in TransCanada Corporation in the 3rd quarter worth approximately $178,000. Exane Derivatives raised its holdings in TransCanada Corporation by 294.7% in the 2nd quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 3,000 shares during the last quarter. Fairview Capital Investment Management LLC purchased a new position in TransCanada Corporation in the 2nd quarter worth approximately $200,000. Finally, FDx Advisors Inc. purchased a new position in TransCanada Corporation in the 3rd quarter worth approximately $221,000. Institutional investors own 56.83% of the company’s stock.
About TransCanada Corporation
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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