TransCanada Corp. (TRP) Receives “Buy” Rating from TD Securities
TransCanada Corp. (NYSE:TRP)‘s stock had its “buy” rating reaffirmed by investment analysts at TD Securities in a note issued to investors on Wednesday. They presently have a $67.00 price objective on the stock. TD Securities’ target price indicates a potential upside of 45.21% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. Bank of America Corp. started coverage on shares of TransCanada Corp. in a research note on Thursday, September 1st. They set a “buy” rating and a $45.45 price objective for the company. Goldman Sachs Group Inc. started coverage on shares of TransCanada Corp. in a report on Wednesday, July 20th. They issued a “buy” rating and a $70.00 target price on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $70.00 target price on shares of TransCanada Corp. in a report on Friday, July 29th. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 target price on shares of TransCanada Corp. in a report on Tuesday, July 19th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $68.00 target price (up from $66.00) on shares of TransCanada Corp. in a report on Sunday, July 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $58.73.
TransCanada Corp. (NYSE:TRP) traded up 1.05% during midday trading on Wednesday, reaching $46.14. The company had a trading volume of 703,457 shares. TransCanada Corp. has a one year low of $28.40 and a one year high of $48.52. The stock’s 50 day moving average price is $46.83 and its 200-day moving average price is $43.98. The firm’s market capitalization is $36.91 billion.
TransCanada Corp. (NYSE:TRP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.52. TransCanada Corp. had a negative net margin of 12.06% and a positive return on equity of 10.93%. The company earned $2.75 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the business posted $0.56 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that TransCanada Corp. will post $1.94 earnings per share for the current year.
The company also recently declared a dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a dividend of $0.433 per share. This is a positive change from TransCanada Corp.’s previous dividend of $0.39. The ex-dividend date of this dividend is Wednesday, September 28th. TransCanada Corp.’s dividend payout ratio (DPR) is currently -114.67%.
Several hedge funds have recently bought and sold shares of TRP. Integrated Wealth Management raised its stake in TransCanada Corp. by 9.1% in the second quarter. Integrated Wealth Management now owns 2,228 shares of the company’s stock valued at $101,000 after buying an additional 186 shares in the last quarter. Societe Generale purchased a new stake in TransCanada Corp. during the second quarter valued at about $129,000. SG Americas Securities LLC purchased a new stake in TransCanada Corp. during the second quarter valued at about $129,000. Lazard Asset Management LLC purchased a new stake in TransCanada Corp. during the first quarter valued at about $117,000. Finally, Thompson Davis & CO. Inc. purchased a new stake in TransCanada Corp. during the second quarter valued at about $168,000. Institutional investors and hedge funds own 50.18% of the company’s stock.
About TransCanada Corp.
TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.
Receive News & Stock Ratings for TransCanada Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransCanada Corp. and related stocks with our FREE daily email newsletter.