TD Securities reiterated their buy rating on shares of TransCanada Corp. (NYSE:TRP) (TSE:TRP) in a report issued on Sunday morning. The brokerage currently has a $74.00 price objective on the stock, up from their previous price objective of $67.00.

Several other analysts have also recently commented on TRP. Credit Suisse Group AG reissued a buy rating and issued a $70.00 price target on shares of TransCanada Corp. in a report on Friday, July 29th. BMO Capital Markets reaffirmed a buy rating and issued a $65.00 price objective on shares of TransCanada Corp. in a research note on Friday, July 29th. Scotiabank reaffirmed an outperform rating and issued a $68.00 price objective (up from $66.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. Bank of America Corp. began coverage on TransCanada Corp. in a research note on Thursday, September 1st. They issued a buy rating and a $45.45 price objective for the company. Finally, Zacks Investment Research downgraded TransCanada Corp. from a hold rating to a sell rating in a research note on Wednesday, November 2nd. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $60.96.

Analyst Recommendations for TransCanada Corp. (NYSE:TRP)

TransCanada Corp. (NYSE:TRP) opened at 44.67 on Friday. The firm’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 stock has a 50 day moving average price of $45.99 and a 200 day moving average price of $44.94.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be issued a dividend of $0.4221 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Wednesday, December 28th. TransCanada Corp.’s dividend payout ratio (DPR) is -83.09%.

Large investors have recently bought and sold shares of the company. D.A. Davidson & CO. boosted its stake in TransCanada Corp. by 121.8% in the third quarter. D.A. Davidson & CO. now owns 7,055 shares of the company’s stock valued at $335,000 after buying an additional 3,874 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in TransCanada Corp. by 72.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,955,287 shares of the company’s stock valued at $473,470,000 after buying an additional 4,180,307 shares during the period. LPL Financial LLC boosted its stake in TransCanada Corp. by 3.9% in the third quarter. LPL Financial LLC now owns 10,017 shares of the company’s stock valued at $470,000 after buying an additional 378 shares during the period. Peloton Wealth Strategists acquired a new stake in TransCanada Corp. during the third quarter valued at about $1,146,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in TransCanada Corp. by 9.6% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,234,337 shares of the company’s stock valued at $58,521,000 after buying an additional 107,937 shares during the period. Institutional investors and hedge funds 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.

5 Day Chart for NYSE:TRP

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.