Equities research analysts at J P Morgan Chase & Co began coverage on shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) in a research report issued to clients and investors on Thursday. The brokerage set an “overweight” rating on the pipeline company’s stock.

Several other analysts also recently issued reports on TRP. Zacks Investment Research downgraded TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub downgraded TransCanada Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. BMO Capital Markets increased their price target on TransCanada Corporation from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Finally, Morgan Stanley began coverage on TransCanada Corporation in a report on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $64.75.

TransCanada Corporation (TRP) opened at 48.84 on Thursday. The company has a 50-day moving average price of $50.28 and a 200-day moving average price of $48.44. TransCanada Corporation has a 12-month low of $42.69 and a 12-month high of $51.85. The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 48.84 and a beta of 0.67.

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Several institutional investors have recently made changes to their positions in the company. Frontier Investment Mgmt Co. grew its stake in shares of TransCanada Corporation by 2.1% during the second quarter. Frontier Investment Mgmt Co. now owns 307,879 shares of the pipeline company’s stock valued at $14,677,000 after acquiring an additional 6,405 shares in the last quarter. Intl Fcstone Inc. acquired a new stake in shares of TransCanada Corporation during the second quarter valued at about $807,000. Advisory Services Network LLC grew its stake in shares of TransCanada Corporation by 16.3% during the second quarter. Advisory Services Network LLC now owns 10,504 shares of the pipeline company’s stock valued at $501,000 after acquiring an additional 1,475 shares in the last quarter. Capital Innovations LLC grew its stake in shares of TransCanada Corporation by 13.7% during the second quarter. Capital Innovations LLC now owns 21,563 shares of the pipeline company’s stock valued at $1,027,000 after acquiring an additional 2,590 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of TransCanada Corporation by 0.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 40,707 shares of the pipeline company’s stock valued at $1,941,000 after acquiring an additional 216 shares in the last quarter. Institutional investors own 56.79% of the company’s stock.

TransCanada Corporation 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.

Analyst Recommendations for TransCanada Corporation (NYSE:TRP)

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