TransCanada Corporation (TRP) Receives $64.00 Consensus Target Price from Brokerages

TransCanada Corporation (NYSE:TRP) (TSE:TRP) has been given an average rating of “Buy” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $64.20.

TRP has been the topic of several recent research reports. TD Securities upgraded TransCanada Corporation to a “buy” rating in a report on Friday, November 10th. TheStreet lowered TransCanada Corporation from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Morgan Stanley increased their target price on TransCanada Corporation from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday. Zacks Investment Research lowered TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Finally, BidaskClub lowered TransCanada Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in TransCanada Corporation by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 280,265 shares of the pipeline company’s stock valued at $12,934,000 after acquiring an additional 10,647 shares in the last quarter. Winslow Evans & Crocker Inc. raised its position in TransCanada Corporation by 19.3% during the second quarter. Winslow Evans & Crocker Inc. now owns 7,636 shares of the pipeline company’s stock valued at $363,000 after acquiring an additional 1,236 shares in the last quarter. Exane Derivatives raised its position in TransCanada Corporation by 294.7% during the second quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock valued at $192,000 after acquiring an additional 3,000 shares in the last quarter. Spirit of America Management Corp NY raised its position in TransCanada Corporation by 24.7% during the second quarter. Spirit of America Management Corp NY now owns 34,850 shares of the pipeline company’s stock valued at $1,661,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Aperio Group LLC raised its position in TransCanada Corporation by 7.6% during the second quarter. Aperio Group LLC now owns 195,743 shares of the pipeline company’s stock valued at $9,331,000 after acquiring an additional 13,786 shares in the last quarter. 56.36% of the stock is owned by hedge funds and other institutional investors.

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TransCanada Corporation (TRP) traded down $0.48 during midday trading on Monday, hitting $48.98. The stock had a trading volume of 1,426,760 shares, compared to its average volume of 1,042,400. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68. 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. TransCanada Corporation has a 52-week low of $43.71 and a 52-week high of $51.85.

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Thursday, December 28th. TransCanada Corporation’s dividend payout ratio (DPR) is 122.78%.

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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