Shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) have been assigned a consensus rating of “Buy” from the eleven analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $62.25.

A number of brokerages recently commented on TRP. TD Securities upgraded shares of TransCanada to a “buy” rating in a report on Wednesday, November 29th. Morgan Stanley raised their price objective on shares of TransCanada from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. J P Morgan Chase & Co began coverage on shares of TransCanada in a report on Thursday, October 5th. They set an “overweight” rating on the stock. TheStreet lowered shares of TransCanada from a “b” rating to a “c+” rating in a report on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of TransCanada from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th.

Hedge funds have recently modified their holdings of the business. Advisor Group Inc. increased its stake in TransCanada by 30.4% in the 2nd quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock valued at $143,000 after buying an additional 699 shares during the last quarter. Quantbot Technologies LP acquired a new stake in TransCanada in the 3rd quarter valued at $178,000. Fairview Capital Investment Management LLC acquired a new stake in TransCanada in the 2nd quarter valued at $200,000. GSA Capital Partners LLP acquired a new stake in TransCanada in the 3rd quarter valued at $214,000. Finally, Roberts Glore & Co. Inc. IL increased its stake in TransCanada by 2.1% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 4,527 shares of the pipeline company’s stock valued at $216,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 56.89% of the company’s stock.

Shares of TransCanada (NYSE TRP) traded down $0.09 during midday trading on Friday, hitting $48.87. 1,176,575 shares of the stock were exchanged, compared to its average volume of 1,045,556. The company has a market capitalization of $43,010.00, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.35 and a beta of 0.66. TransCanada has a 52 week low of $44.82 and a 52 week high of $51.85. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 1.68.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.491 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.96 annualized dividend and a yield of 4.02%. TransCanada’s payout ratio is currently 123.57%.

COPYRIGHT VIOLATION NOTICE: “TransCanada Corporation (TRP) Receives $62.25 Consensus Target Price from Analysts” was reported by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.watchlistnews.com/transcanada-corporation-trp-receives-62-25-consensus-target-price-from-analysts/1758187.html.

About TransCanada

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 (NYSE:TRP)

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