TransCanada Co. Plans Quarterly Dividend of $0.49 (TRP)

TransCanada Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Wednesday, November 8th, Zacks reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.491 per share by the pipeline company on Wednesday, January 31st. This represents a $1.96 annualized dividend and a yield of 4.05%. The ex-dividend date is Thursday, December 28th.

TransCanada has decreased its dividend by an average of 1.9% annually over the last three years. TransCanada has a dividend payout ratio of 107.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect TransCanada to earn $2.77 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 90.3%.

TransCanada (TRP) traded down $0.04 on Friday, reaching $48.50. 770,743 shares of the company’s stock traded hands, compared to its average volume of 1,120,000. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68. The company has a market cap of $42,480.00, a PE ratio of 30.50, a P/E/G ratio of 2.33 and a beta of 0.66. TransCanada has a 1-year low of $44.88 and a 1-year high of $51.85.

Several equities analysts have recently weighed in on TRP shares. Morgan Stanley started coverage on shares of TransCanada in a research note on Friday, September 22nd. They issued an “equal weight” rating and a $53.00 price objective on the stock. TD Securities upgraded shares of TransCanada to a “buy” rating in a research note on Friday, November 10th. TheStreet lowered shares of TransCanada from a “b” rating to a “c+” rating in a report on Thursday, November 9th. J P Morgan Chase & Co assumed coverage on shares of TransCanada in a report on Thursday, October 5th. They issued an “overweight” rating for the company. Finally, Zacks Investment Research lowered shares of TransCanada from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. TransCanada has an average rating of “Buy” and an average target price of $59.25.

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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.

Dividend History for TransCanada (NYSE:TRP)

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