Morgan Stanley Upgrades TransCanada (TRP) to Overweight

TransCanada (NYSE:TRP) (TSE:TRP) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a $54.00 price target on the pipeline company’s stock. Morgan Stanley’s price target indicates a potential upside of 12.81% from the company’s current price. The analysts noted that the move was a valuation call.

Several other equities analysts also recently weighed in on TRP. Bank of America assumed coverage on TransCanada in a research report on Tuesday. They set a “buy” rating on the stock. JPMorgan Chase & Co. assumed coverage on TransCanada in a research report on Thursday, October 5th. They set an “overweight” rating on the stock. TD Securities raised TransCanada to a “buy” rating in a research report on Wednesday, November 29th. TheStreet downgraded TransCanada from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research downgraded TransCanada from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $59.25.

TransCanada (TRP) traded up $0.40 during midday trading on Thursday, hitting $47.87. The stock had a trading volume of 966,528 shares, compared to its average volume of 912,586. The company has a market cap of $42,020.00, a P/E ratio of 29.73, a P/E/G ratio of 1.99 and a beta of 0.66. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 1.68. TransCanada has a 52-week low of $45.07 and a 52-week high of $51.85.

A number of institutional investors have recently made changes to their positions in TRP. Advisor Group Inc. grew its position in TransCanada by 30.4% in the 2nd quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock valued at $143,000 after acquiring an additional 699 shares during the last quarter. Quantbot Technologies LP bought a new position in TransCanada in the 3rd quarter valued at $178,000. Fairview Capital Investment Management LLC bought a new position in TransCanada in the 2nd quarter valued at $200,000. GSA Capital Partners LLP bought a new position in TransCanada in the 3rd quarter valued at $214,000. Finally, Roberts Glore & Co. Inc. IL grew its position in shares of TransCanada by 2.1% during the 2nd 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. 56.86% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for TransCanada (NYSE:TRP)

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