TD Securities upgraded shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) to a buy rating in a research note released on Friday, The Fly reports.

TRP has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of TransCanada Corporation from a hold rating to a strong-buy rating and set a $57.00 price target on the stock in a report on Wednesday, October 11th. J P Morgan Chase & Co assumed coverage on shares of TransCanada Corporation in a report on Thursday, October 5th. They issued an overweight rating on the stock. BidaskClub upgraded shares of TransCanada Corporation from a hold rating to a buy rating in a report on Sunday, July 16th. BMO Capital Markets lifted their target price on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an outperform rating in a report on Monday, July 31st. Finally, Morgan Stanley assumed coverage on shares of TransCanada Corporation in a report on Friday, September 22nd. They issued an equal weight rating and a $53.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $65.13.

TransCanada Corporation (NYSE TRP) traded up $0.70 during trading on Friday, hitting $49.37. 2,343,900 shares of the stock were exchanged, compared to its average volume of 1,039,467. The company has a market cap of $43,001.27, a P/E ratio of 21.56, a P/E/G ratio of 2.25 and a beta of 0.66. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68. TransCanada Corporation has a fifty-two week low of $42.69 and a fifty-two week high of $51.85.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.491 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.96 annualized dividend and a dividend yield of 3.98%. TransCanada Corporation’s dividend payout ratio (DPR) is currently 125.16%.

Several institutional investors have recently modified their holdings of TRP. TD Asset Management Inc. boosted its position in TransCanada Corporation by 0.3% in the third quarter. TD Asset Management Inc. now owns 26,765,482 shares of the pipeline company’s stock valued at $1,319,815,000 after buying an additional 91,181 shares in the last quarter. Vanguard Group Inc. boosted its position in TransCanada Corporation by 4.8% in the second quarter. Vanguard Group Inc. now owns 21,658,344 shares of the pipeline company’s stock valued at $1,032,453,000 after buying an additional 983,799 shares in the last quarter. FMR LLC boosted its position in TransCanada Corporation by 16.2% in the second quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock valued at $802,753,000 after buying an additional 2,350,684 shares in the last quarter. Legal & General Group Plc boosted its position in TransCanada Corporation by 2.4% in the third quarter. Legal & General Group Plc now owns 5,996,170 shares of the pipeline company’s stock valued at $295,675,000 after buying an additional 143,049 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in TransCanada Corporation by 0.5% in the second quarter. Franklin Resources Inc. now owns 4,425,323 shares of the pipeline company’s stock valued at $211,039,000 after buying an additional 23,376 shares in the last quarter. Institutional investors and hedge funds own 56.36% 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.

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Analyst Recommendations for TransCanada Corporation (NYSE:TRP)

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