Today, TransCanada Corp. (TRP) Receives Consensus Recommendation of “Buy” from Analysts

Today, TransCanada Corp. (TRP) Receives Consensus Recommendation of “Buy” from Analysts
Shares of TransCanada Corp. (NYSE:TRP) (TSE:TRP) have earned an average rating of “Buy” from the sixteen ratings firms that are presently covering the stock. Three equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $62.29.

Several equities analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating and issued a $68.00 target price (up from $66.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. TD Securities reissued a “buy” rating and issued a $67.00 target price (up from $63.00) on shares of TransCanada Corp. in a research note on Sunday, July 31st. BMO Capital Markets reissued a “buy” rating and issued a $65.00 target price on shares of TransCanada Corp. in a research note on Friday, July 29th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $70.00 price objective on shares of TransCanada Corp. in a research report on Friday, July 29th. Finally, GMP Securities raised shares of TransCanada Corp. from a “hold” rating to a “buy” rating in a research report on Monday.

TransCanada Corp. (NYSE:TRP) traded up 0.20% during midday trading on Friday, hitting $45.50. 355,068 shares of the stock traded hands. TransCanada Corp. has a 12-month low of $28.40 and a 12-month high of $48.52. The stock’s market capitalization is $36.40 billion. The firm’s 50 day moving average is $45.39 and its 200-day moving average is $45.20.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a $0.4221 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Wednesday, December 28th. TransCanada Corp.’s dividend payout ratio (DPR) is presently -83.09%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Viking Fund Management LLC increased its position in TransCanada Corp. by 5.3% in the second quarter. Viking Fund Management LLC now owns 200,000 shares of the company’s stock worth $9,044,000 after buying an additional 10,000 shares during the period. Bollard Group LLC increased its position in TransCanada Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 38,936 shares of the company’s stock worth $1,761,000 after buying an additional 189 shares during the period. Pennsylvania Trust Co increased its position in TransCanada Corp. by 9.3% in the second quarter. Pennsylvania Trust Co now owns 5,890 shares of the company’s stock worth $266,000 after buying an additional 500 shares during the period. Barometer Capital Management Inc. increased its position in TransCanada Corp. by 52.1% in the second quarter. Barometer Capital Management Inc. now owns 700,550 shares of the company’s stock worth $31,679,000 after buying an additional 239,850 shares during the period. Finally, Eqis Capital Management Inc. increased its position in TransCanada Corp. by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 8,554 shares of the company’s stock worth $387,000 after buying an additional 55 shares during the period. 51.54% of the stock is owned by institutional investors and hedge funds.

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