GMP Securities upgraded shares of TransCanada Corp. (NYSE:TRP) (TSE:TRP) from a hold rating to a buy rating in a report released on Monday.

A number of other research analysts also recently commented on the stock. Credit Suisse Group AG set a $70.00 price objective on shares of TransCanada Corp. and gave the company a buy rating in a research report on Saturday. TD Securities reaffirmed a buy rating and set a $74.00 price objective (up from $67.00) on shares of TransCanada Corp. in a research report on Sunday. Scotiabank reaffirmed an outperform rating and set a $69.00 price objective on shares of TransCanada Corp. in a research report on Sunday. RBC Capital Markets reaffirmed an outperform rating and set a $72.00 price objective on shares of TransCanada Corp. in a research report on Sunday. Finally, Zacks Investment Research raised shares of TransCanada Corp. from a hold rating to a strong-buy rating and set a $49.00 price objective on the stock in a research report on Friday, November 4th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $61.27.

Analyst Recommendations for TransCanada Corp. (NYSE:TRP)

Shares of TransCanada Corp. (NYSE:TRP) traded up 0.81% on Monday, reaching $45.90. 142,732 shares of the company’s stock traded hands. TransCanada Corp. has a 52 week low of $28.40 and a 52 week high of $48.52. The firm’s market capitalization is $36.72 billion. The company’s 50-day moving average is $45.49 and its 200-day moving average is $45.16.

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, December 28th. TransCanada Corp.’s dividend payout ratio is currently -83.09%.

Several large investors have recently bought and sold shares of the company. Brookfield Asset Management Inc. increased its stake in TransCanada Corp. by 2.0% in the third quarter. Brookfield Asset Management Inc. now owns 6,133,454 shares of the company’s stock worth $291,978,000 after buying an additional 120,800 shares in the last quarter. D.A. Davidson & CO. increased 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 worth $335,000 after buying an additional 3,874 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 worth $473,470,000 after buying an additional 4,180,307 shares in the last quarter. LPL Financial LLC increased 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 worth $470,000 after buying an additional 378 shares in the last quarter. Finally, Peloton Wealth Strategists purchased a new stake in TransCanada Corp. during the third quarter worth $1,146,000. 51.54% of the stock is owned by institutional investors.

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

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