TransCanada Corp. (NYSE:TRP) (TSE:TRP)‘s stock had its “outperform” rating reaffirmed by stock analysts at RBC Capital Markets in a report released on Sunday. They currently have a $72.00 price objective on the stock. RBC Capital Markets’ target price would indicate a potential upside of 61.18% from the company’s previous close.

TRP has been the topic of several other reports. Scotiabank reissued an “outperform” rating and issued a $68.00 price target (up from $66.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. TD Securities reissued a “buy” rating and issued a $67.00 price target (up from $63.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. BMO Capital Markets reissued a “buy” rating and issued a $65.00 price target on shares of TransCanada Corp. in a research note on Friday, July 29th. Credit Suisse Group AG reissued a “buy” rating and issued a $70.00 price target on shares of TransCanada Corp. in a research note on Friday, July 29th. Finally, Zacks Investment Research raised TransCanada Corp. from a “hold” rating to a “strong-buy” rating and set a $49.00 price target on the stock in a research note on Friday, November 4th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $60.46.

Analyst Recommendations for TransCanada Corp. (NYSE:TRP)

Shares of TransCanada Corp. (NYSE:TRP) opened at 44.67 on Friday. The firm’s market capitalization 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 of $45.99 and a 200-day moving average of $44.94.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc. increased its position in shares of TransCanada Corp. by 1.1% in the third quarter. TD Asset Management Inc. now owns 25,888,494 shares of the company’s stock worth $1,227,401,000 after buying an additional 287,143 shares during the period. 1832 Asset Management L.P. increased its position in shares of TransCanada Corp. by 2.4% in the second quarter. 1832 Asset Management L.P. now owns 15,841,715 shares of the company’s stock worth $1,132,559,000 after buying an additional 376,578 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of TransCanada Corp. by 4.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,088,800 shares of the company’s stock worth $715,376,000 after buying an additional 601,000 shares during the period. Vanguard Group Inc. increased its position in shares of TransCanada Corp. by 11.6% in the second quarter. Vanguard Group Inc. now owns 15,054,588 shares of the company’s stock worth $680,768,000 after buying an additional 1,568,417 shares during the period. Finally, CIBC World Markets Inc. increased its position in shares of TransCanada Corp. by 10.8% in the third quarter. CIBC World Markets Inc. now owns 13,211,536 shares of the company’s stock worth $628,341,000 after buying an additional 1,289,388 shares during the period. Hedge funds and other institutional investors own 51.42% 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.

5 Day Chart for NYSE:TRP

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