TransCanada Co. (TRP) Receives C$72.88 Average PT from Brokerages

Shares of TransCanada Co. (TSE:TRP) (NYSE:TRP) have been given a consensus rating of “Buy” by the nine research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$71.22.

Several equities research analysts recently weighed in on TRP shares. National Bank Financial raised their price objective on TransCanada from C$68.00 to C$69.00 and gave the company a “sector perform” rating in a report on Wednesday, November 29th. JPMorgan Chase & Co. raised their price objective on TransCanada from C$74.00 to C$76.00 in a report on Tuesday, December 5th. Citigroup raised their price objective on TransCanada from C$68.00 to C$71.00 in a report on Friday, December 8th. CIBC raised their price objective on TransCanada from C$75.00 to C$76.00 in a report on Thursday, January 11th. Finally, BMO Capital Markets cut their price objective on TransCanada from C$73.00 to C$69.00 in a report on Tuesday, February 6th.

TRP stock traded down C$1.32 during midday trading on Thursday, hitting C$52.88. The company had a trading volume of 2,172,100 shares, compared to its average volume of 2,098,720. TransCanada has a 12 month low of C$52.05 and a 12 month high of C$65.18. The firm has a market cap of $49,260.00, a P/E ratio of 20.98 and a beta of 0.22.

TransCanada (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.71 by C$0.11. TransCanada had a return on equity of 1.10% and a net margin of 4.06%. The company had revenue of C$3.62 billion for the quarter, compared to the consensus estimate of C$2.50 billion.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from TransCanada’s previous quarterly dividend of $0.63. This represents a $2.76 annualized dividend and a yield of 5.22%. TransCanada’s payout ratio is presently 99.21%.

In related news, insider Anthony M. Palmer bought 2,000 shares of the business’s stock in a transaction on Tuesday, March 20th. The shares were purchased at an average cost of C$53.05 per share, with a total value of C$106,100.00. Also, Director David B. Moneta bought 2,030 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of C$37.93 per share, for a total transaction of C$76,997.90. Over the last ninety days, insiders have acquired 17,396 shares of company stock worth $938,345 and have sold 5,101 shares worth $291,724.

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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.

Analyst Recommendations for TransCanada (TSE:TRP)

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