TransCanada Co. (trp) Announces Dividend Increase – $0.47 Per Share
TransCanada Co. (NYSE:trp) (TSE:TRP) declared a dividend on Thursday, February 16th. Shareholders of record on Friday, March 31st will be paid a dividend of 0.47 per share by the pipeline company on Friday, April 28th. The ex-dividend date is Wednesday, March 29th. This is a boost from TransCanada’s previous dividend of $0.43.
TransCanada has decreased its dividend by an average of 1.9% annually over the last three years. TransCanada has a payout ratio of 79.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect TransCanada to earn $2.30 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 81.3%.
Shares of TransCanada (NYSE:TRP) traded up 0.47% on Thursday, reaching $47.17. The company’s stock had a trading volume of 976,673 shares. TransCanada has a 1-year low of $39.13 and a 1-year high of $49.76. The stock has a 50-day moving average of $46.40 and a 200 day moving average of $46.11. The stock has a market capitalization of $40.90 billion, a PE ratio of 396.39 and a beta of 0.74.
TransCanada (NYSE:TRP) last released its quarterly earnings results on Thursday, February 16th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. The business had revenue of $3.62 billion for the quarter. TransCanada had a negative net margin of 16.15% and a positive return on equity of 11.71%. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. On average, equities analysts forecast that TransCanada will post $2.15 EPS for the current year.
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A number of research analysts have recently weighed in on TRP shares. Zacks Investment Research upgraded shares of TransCanada from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a report on Thursday, January 5th. Credit Suisse Group AG restated an “outperform” rating on shares of TransCanada in a report on Friday, January 27th. Finally, Wells Fargo & Co started coverage on shares of TransCanada in a report on Friday, March 31st. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. TransCanada has an average rating of “Buy” and an average target price of $62.38.
TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.
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