BidaskClub downgraded shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) from a buy rating to a hold rating in a research report sent to investors on Wednesday, August 9th.
A number of other research firms also recently commented on TRP. TheStreet upgraded TransCanada Corporation from a c rating to a b- rating in a research report on Friday, May 5th. Zacks Investment Research downgraded TransCanada Corporation from a buy rating to a hold rating in a research report on Wednesday, April 19th. Wolfe Research restated an outperform rating and issued a $53.00 target price on shares of TransCanada Corporation in a research report on Friday, May 12th. Finally, BMO Capital Markets lifted their target price on TransCanada Corporation from $72.00 to $73.00 and gave the company an outperform rating in a research report on Monday, July 31st. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. TransCanada Corporation has a consensus rating of Buy and an average target price of $63.81.
Shares of TransCanada Corporation (NYSE TRP) opened at 49.51 on Wednesday. The stock has a market cap of $43.12 billion, a price-to-earnings ratio of 51.73 and a beta of 0.66. TransCanada Corporation has a 1-year low of $42.69 and a 1-year high of $51.81. The firm has a 50-day moving average price of $49.90 and a 200-day moving average price of $47.57.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.4995 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Thursday, September 28th. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. TransCanada Corporation’s payout ratio is currently 215.12%.
Several large investors have recently bought and sold shares of the stock. 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 in the last quarter. Exane Derivatives increased its stake in TransCanada Corporation by 294.7% in the second quarter. Exane Derivatives now owns 4,018 shares of the pipeline company’s stock valued at $192,000 after buying an additional 3,000 shares in the last quarter. Fairview Capital Investment Management LLC bought a new stake in shares of TransCanada Corporation during the second quarter valued at $200,000. Roberts Glore & Co. Inc. IL increased its stake in shares of 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 valued at $216,000 after buying an additional 93 shares during the period. Finally, Investment House LLC bought a new stake in shares of TransCanada Corporation during the second quarter valued at $243,000. Hedge funds and other institutional investors 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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