Brokerages Set TransCanada Co. (TRP) Price Target at $71.75
TransCanada Co. (TSE:TRP) (NYSE:TRP) has received an average rating of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is C$71.75.
Several equities analysts recently issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and issued a C$73.00 price objective on shares of TransCanada in a research report on Monday, July 31st. TD Securities boosted their price objective on TransCanada from C$77.00 to C$79.00 and gave the company a “buy” rating in a research report on Monday, July 31st.
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In other TransCanada news, Director Mark Yeomans sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of C$62.65, for a total value of C$87,710.00. Also, Director Stephanie Wilson sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of C$62.48, for a total value of C$62,480.00. In the last 90 days, insiders acquired 3,280 shares of company stock worth $207,852 and sold 66,027 shares worth $4,255,154.
TransCanada (TRP) traded up 0.40% during mid-day trading on Thursday, reaching $62.67. 727,694 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $62.24 and a 200-day moving average price of $62.92. TransCanada has a 52 week low of $57.36 and a 52 week high of $65.24. The stock has a market cap of $54.59 billion and a P/E ratio of 51.54.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.625 dividend. This is a boost from TransCanada’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, September 28th. This represents a $2.50 annualized dividend and a yield of 3.99%.
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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