TransCanada (TRP) Upgraded by Morgan Stanley to “Overweight”
Morgan Stanley upgraded shares of TransCanada (NYSE:TRP) (TSE:TRP) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have $54.00 price objective on the pipeline company’s stock. The analysts noted that the move was a valuation call.
Other analysts have also issued reports about the stock. Bank of America started coverage on shares of TransCanada in a research report on Tuesday, January 9th. They set a buy rating on the stock. TD Securities upgraded shares of TransCanada to a buy rating in a research report on Wednesday, November 29th. TheStreet downgraded shares of TransCanada from a b rating to a c+ rating in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of TransCanada from a buy rating to a hold rating in a report on Friday, October 20th. Finally, JPMorgan Chase & Co. started coverage on shares of TransCanada in a report on Thursday, October 5th. They set an overweight rating for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. TransCanada presently has an average rating of Buy and an average price target of $58.75.
Shares of TransCanada (TRP) traded up $0.10 during trading on Thursday, hitting $47.86. 1,143,748 shares of the stock traded hands, compared to its average volume of 820,993. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.48 and a current ratio of 0.51. TransCanada has a 1-year low of $45.07 and a 1-year high of $51.85. The firm has a market cap of $41,999.64, a price-to-earnings ratio of 30.88, a P/E/G ratio of 2.33 and a beta of 0.66.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a dividend of $0.491 per share. This represents a $1.96 annualized dividend and a yield of 4.10%. The ex-dividend date is Thursday, December 28th. TransCanada’s dividend payout ratio is currently 126.45%.
A number of hedge funds have recently made changes to their positions in the stock. Roberts Glore & Co. Inc. IL lifted its holdings in TransCanada by 2.1% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 4,527 shares of the pipeline company’s stock valued at $216,000 after purchasing an additional 93 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of TransCanada by 2.0% in the second quarter. Oppenheimer & Co. Inc. now owns 7,723 shares of the pipeline company’s stock worth $368,000 after acquiring an additional 153 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of TransCanada by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 40,707 shares of the pipeline company’s stock worth $1,941,000 after acquiring an additional 216 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of TransCanada by 2.9% in the second quarter. SG Americas Securities LLC now owns 7,827 shares of the pipeline company’s stock worth $373,000 after acquiring an additional 222 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of TransCanada by 0.4% in the second quarter. Voya Investment Management LLC now owns 95,609 shares of the pipeline company’s stock worth $4,557,000 after acquiring an additional 361 shares during the last quarter. 56.86% of the stock is owned by hedge funds and other institutional investors.
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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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