TransCanada Corporation (NYSE:TRP) (TSE:TRP) had its price objective upped by BMO Capital Markets from $72.00 to $73.00 in a research note issued to investors on Monday, July 31st. The brokerage currently has an outperform rating on the pipeline company’s stock.
Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of TransCanada Corporation from a buy rating to a hold rating in a report on Wednesday, April 19th. TheStreet raised shares of TransCanada Corporation from a c rating to a b- rating in a research report on Friday, May 5th. Wolfe Research reissued an outperform rating and issued a $53.00 target price on shares of TransCanada Corporation in a report on Friday, May 12th. Finally, BidaskClub raised TransCanada Corporation from a hold rating to a buy rating in a research note on Sunday, July 16th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $63.81.
TransCanada Corporation (NYSE:TRP) opened at 49.29 on Monday. The firm has a 50-day moving average of $49.64 and a 200 day moving average of $47.53. TransCanada Corporation has a 1-year low of $42.69 and a 1-year high of $51.81. The firm has a market cap of $42.93 billion, a price-to-earnings ratio of 50.87 and a beta of 0.66.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.4995 dividend. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 4.05%. TransCanada Corporation’s payout ratio is presently 215.12%.
Institutional investors have recently made changes to their positions in the company. Veritable L.P. boosted its position in TransCanada Corporation by 4.2% in the second quarter. Veritable L.P. now owns 15,066 shares of the pipeline company’s stock valued at $718,000 after buying an additional 612 shares during the period. Global Endowment Management LP purchased a new stake in shares of TransCanada Corporation during the second quarter valued at $877,000. Dimensional Fund Advisors LP boosted its stake in shares of TransCanada Corporation by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 281,922 shares of the pipeline company’s stock valued at $13,439,000 after buying an additional 1,657 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in TransCanada Corporation by 15.8% in the second quarter. Parametric Portfolio Associates LLC now owns 197,847 shares of the pipeline company’s stock valued at $9,431,000 after buying an additional 26,929 shares during the period. Finally, Advisor Group Inc. increased its stake in TransCanada Corporation by 30.4% in the second quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock valued at $143,000 after buying an additional 699 shares during the period. 56.12% of the stock is currently owned by institutional investors and hedge funds.
About TransCanada Corporation
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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