TransCanada Corporation (TRP) Given New $54.00 Price Target at Morgan Stanley

TransCanada Corporation (NYSE:TRP) (TSE:TRP) had its price objective hoisted by Morgan Stanley from $53.00 to $54.00 in a research report report published on Friday morning. They currently have an equal weight rating on the pipeline company’s stock.

A number of other research firms also recently commented on TRP. TheStreet downgraded shares of TransCanada Corporation from a b rating to a c+ rating in a report on Thursday, November 9th. TD Securities upgraded shares of TransCanada Corporation to a buy rating in a report on Friday, November 10th. BidaskClub downgraded shares of TransCanada Corporation from a buy rating to a hold rating in a report on Monday, July 31st. J P Morgan Chase & Co started coverage on shares of TransCanada Corporation in a report on Thursday, October 5th. They issued an overweight rating on the stock. Finally, Zacks Investment Research downgraded shares of TransCanada Corporation from a buy rating to a hold rating in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $65.25.

TransCanada Corporation (NYSE TRP) traded down $0.48 during midday trading on Friday, hitting $48.98. 1,426,760 shares of the company were exchanged, compared to its average volume of 1,042,400. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.51 and a quick ratio of 0.48. TransCanada Corporation has a twelve month low of $43.71 and a twelve month high of $51.85. The company has a market cap of $43,250.00, a P/E ratio of 21.65, a P/E/G ratio of 2.26 and a beta of 0.66.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a dividend of $0.491 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.01%. TransCanada Corporation’s dividend payout ratio is currently 122.78%.

Several hedge funds have recently added to or reduced their stakes in TRP. FMR LLC raised its holdings in shares of TransCanada Corporation by 16.2% during the second quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock valued at $802,753,000 after acquiring an additional 2,350,684 shares during the period. Vanguard Group Inc. raised its holdings in shares of TransCanada Corporation by 4.8% during 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 acquiring an additional 983,799 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of TransCanada Corporation by 69.1% during the second quarter. PNC Financial Services Group Inc. now owns 2,199,225 shares of the pipeline company’s stock valued at $104,837,000 after acquiring an additional 898,862 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in shares of TransCanada Corporation by 45.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,495,233 shares of the pipeline company’s stock valued at $123,246,000 after acquiring an additional 781,095 shares during the period. Finally, Ninepoint Partners LP purchased a new position in TransCanada Corporation during the third quarter valued at approximately $24,590,000. Institutional investors and hedge funds own 56.36% 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.

Analyst Recommendations for TransCanada Corporation (NYSE:TRP)

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