TransCanada Corporation (NYSE:TRP) (TSE:TRP) had its target price upped by BMO Capital Markets from $72.00 to $73.00 in a research report sent to investors on Monday, July 31st. They currently have an outperform rating on the pipeline company’s stock.
Other equities research analysts have also recently issued research reports about the company. Wolfe Research reissued an outperform rating and issued a $53.00 price target on shares of TransCanada Corporation in a research note on Friday, May 12th. BidaskClub raised TransCanada Corporation from a hold rating to a buy rating in a research note on Sunday, July 16th. Zacks Investment Research raised TransCanada Corporation from a hold rating to a buy rating and set a $54.00 target price for the company in a research note on Saturday, July 8th. Finally, TheStreet raised TransCanada Corporation from a c rating to a b- rating in a research note on Friday, May 5th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $63.81.
TransCanada Corporation (NYSE TRP) traded up 1.04% during trading on Monday, hitting $49.51. 665,442 shares of the stock traded hands. The company has a 50-day moving average price of $49.90 and a 200 day moving average price of $47.57. The stock has a market cap of $43.12 billion, a PE ratio of 51.73 and a beta of 0.66. TransCanada Corporation has a one year low of $42.69 and a one year high of $51.81.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.4995 per share. This is a positive change from TransCanada Corporation’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Thursday, September 28th. TransCanada Corporation’s dividend payout ratio (DPR) is 215.12%.
A number of hedge funds have recently modified their holdings of the company. Advisor Group Inc. raised its stake in shares of TransCanada Corporation by 30.4% in the second quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock worth $143,000 after buying an additional 699 shares during the period. Exane Derivatives raised its stake in shares of TransCanada Corporation by 294.7% in the second quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock worth $192,000 after buying an additional 3,000 shares during the period. Fairview Capital Investment Management LLC purchased a new stake in TransCanada Corporation during the second quarter worth about $200,000. Roberts Glore & Co. Inc. IL increased its stake in TransCanada Corporation by 2.1% in the second quarter. Roberts Glore & Co. Inc. IL now owns 4,527 shares of the pipeline company’s stock worth $216,000 after buying an additional 93 shares in the last quarter. Finally, Investment House LLC purchased a new stake in TransCanada Corporation during the second quarter worth about $243,000. Institutional investors and hedge funds own 56.25% of the company’s stock.
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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