National Bank Financial Comments on TransCanada Corp.’s FY2016 Earnings (TRP)
TransCanada Corp. (NYSE:TRP) (TSE:TRP) – National Bank Financial increased their FY2016 earnings per share estimates for TransCanada Corp. in a report released on Wednesday. National Bank Financial analyst P. Kenny now anticipates that the brokerage will post earnings per share of $2.04 for the year, up from their prior estimate of $1.98.
TRP has been the topic of a number of other research reports. BMO Capital Markets reissued an “outperform” rating and issued a $65.00 price target on shares of TransCanada Corp. in a research note on Tuesday, September 27th. Zacks Investment Research lowered TransCanada Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, November 2nd. Bank of America Corp. started coverage on TransCanada Corp. in a report on Thursday, September 1st. They issued a “buy” rating and a $45.45 price objective on the stock. TD Securities restated a “buy” rating and issued a $67.00 price objective on shares of TransCanada Corp. in a report on Wednesday, October 12th. Finally, Scotiabank restated an “outperform” rating and issued a $69.00 price objective (up previously from $68.00) on shares of TransCanada Corp. in a report on Friday, September 23rd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.57.
TransCanada Corp. (NYSE:TRP) opened at 44.67 on Friday. The company’s market cap is $35.74 billion. TransCanada Corp. has a 52-week low of $28.40 and a 52-week high of $48.52. The firm’s 50-day moving average is $45.99 and its 200-day moving average is $44.94.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be issued a $0.4221 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.69 annualized dividend and a yield of 3.78%. TransCanada Corp.’s dividend payout ratio (DPR) is currently -83.09%.
A number of hedge funds have recently modified their holdings of TRP. Integrated Wealth Management raised its stake in shares of 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 during the period. Assetmark Inc. raised its stake in shares of TransCanada Corp. by 52.9% in the third quarter. Assetmark Inc. now owns 2,492 shares of the company’s stock valued at $119,000 after buying an additional 862 shares during the period. Societe Generale bought a new stake in shares of TransCanada Corp. during the second quarter valued at about $129,000. SG Americas Securities LLC bought a new stake in shares of TransCanada Corp. during the second quarter valued at about $129,000. Finally, Thompson Davis & CO. Inc. bought a new stake in shares of TransCanada Corp. during the second quarter valued at about $168,000. Hedge funds and other institutional investors own 51.42% of the company’s stock.
TransCanada Corp. Company Profile
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.
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