TransCanada Co. (TRP) Receives $61.43 Average Price Target from Brokerages
TransCanada Co. (NYSE:TRP) (TSE:TRP) has been given an average recommendation of “Buy” by the eleven ratings firms that are currently covering the firm. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $62.64.
Several analysts have recently weighed in on TRP shares. Wells Fargo & Co began coverage on shares of TransCanada in a research note on Friday, March 31st. They issued an “outperform” rating for the company. Zacks Investment Research lowered shares of TransCanada from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 25th. Finally, Credit Suisse Group AG restated an “outperform” rating on shares of TransCanada in a research note on Friday, January 27th.
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Shares of TransCanada (NYSE:TRP) traded down 0.57% during midday trading on Friday, hitting $46.90. 1,057,955 shares of the company’s stock traded hands. The company has a 50 day moving average price of $46.40 and a 200 day moving average price of $46.11. TransCanada has a 1-year low of $39.13 and a 1-year high of $49.76. The firm has a market capitalization of $40.66 billion, a price-to-earnings ratio of 394.12 and a beta of 0.74.
TransCanada (NYSE:TRP) last released its quarterly earnings data on Thursday, February 16th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.20. The company earned $3.62 billion during the quarter. TransCanada had a negative net margin of 16.15% and a positive return on equity of 11.71%. The business’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Equities analysts anticipate that TransCanada will post $2.12 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be issued a $0.47 dividend. This is an increase from TransCanada’s previous dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 29th. TransCanada’s payout ratio is -81.16%.
A number of large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in TransCanada by 52.9% in the third quarter. Assetmark Inc. now owns 2,492 shares of the pipeline company’s stock valued at $119,000 after buying an additional 862 shares during the period. Elkfork Partners LLC acquired a new stake in TransCanada during the fourth quarter valued at approximately $120,000. Quantitative Investment Management LLC acquired a new stake in TransCanada during the third quarter valued at approximately $204,000. Aveo Capital Partners LLC acquired a new stake in TransCanada during the fourth quarter valued at approximately $223,000. Finally, First Republic Investment Management Inc. increased its stake in TransCanada by 16.5% in the fourth quarter. First Republic Investment Management Inc. now owns 5,065 shares of the pipeline company’s stock valued at $229,000 after buying an additional 719 shares during the period. 57.15% of the stock is currently owned by institutional investors and hedge funds.
TransCanada Company Profile
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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