The Analysts Set TransCanada Corp. (TRP) Target Price at $62.29

The Analysts Set TransCanada Corp. (TRP) Target Price at $62.29

Shares of TransCanada Corp. (NYSE:TRP) (TSE:TRP) have been given an average rating of “Buy” by the sixteen brokerages that are currently covering the company. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $62.29.

TRP has been the subject of several recent research reports. Scotiabank reissued an “outperform” rating and set a $68.00 price objective (up previously from $66.00) on shares of TransCanada Corp. in a research report on Sunday, July 31st. TD Securities reissued a “buy” rating and set a $67.00 price objective (up previously from $63.00) on shares of TransCanada Corp. in a research report on Sunday, July 31st. Bank of America Corp. initiated coverage on TransCanada Corp. in a research report on Thursday, September 1st. They set a “buy” rating and a $45.45 price objective for the company. BMO Capital Markets reissued an “outperform” rating and set a $65.00 price objective on shares of TransCanada Corp. in a research report on Tuesday, September 27th. Finally, Zacks Investment Research lowered TransCanada Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, November 2nd.

TransCanada Corp. (NYSE:TRP) opened at 45.50 on Friday. TransCanada Corp. has a one year low of $28.40 and a one year high of $48.52. The company has a 50 day moving average of $45.32 and a 200-day moving average of $45.24. The stock’s market capitalization is $36.40 billion.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be paid a dividend of $0.4221 per share. The ex-dividend date is Wednesday, December 28th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.71%. TransCanada Corp.’s dividend payout ratio is currently -83.09%.

Several large investors have recently added to or reduced their stakes in TRP. Renaissance Technologies LLC increased its stake in TransCanada Corp. by 35.1% in the first quarter. Renaissance Technologies LLC now owns 497,903 shares of the company’s stock worth $19,589,000 after buying an additional 129,400 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in TransCanada Corp. during the first quarter worth about $2,948,000. Ladenburg Thalmann Financial Services Inc. increased its stake in TransCanada Corp. by 16.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 40,174 shares of the company’s stock worth $1,579,000 after buying an additional 5,798 shares in the last quarter. Logan Capital Management Inc. increased its stake in TransCanada Corp. by 7.6% in the first quarter. Logan Capital Management Inc. now owns 17,120 shares of the company’s stock worth $673,000 after buying an additional 1,211 shares in the last quarter. Finally, Avalon Advisors LLC purchased a new stake in TransCanada Corp. during the first quarter worth about $430,000. Institutional investors and hedge funds own 51.54% of the company’s stock.

Related posts

Leave a Comment