Several other research analysts have also issued reports on TRP. 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 target price for the company. Goldman Sachs Group Inc. initiated coverage on TransCanada Corp. in a research report on Wednesday, July 20th. They set a buy rating and a $70.00 target price for the company. Credit Suisse Group AG reaffirmed a buy rating and set a $70.00 target price on shares of TransCanada Corp. in a research report on Friday, July 29th. BMO Capital Markets reaffirmed a buy rating and set a $65.00 target price on shares of TransCanada Corp. in a research report on Tuesday, July 19th. Finally, Scotiabank reaffirmed an outperform rating and set a $68.00 target price (up from $66.00) on shares of TransCanada Corp. in a research report on Sunday, July 31st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. TransCanada Corp. currently has an average rating of Buy and an average price target of $58.73.
Shares of TransCanada Corp. (NYSE:TRP) traded down 0.26% during mid-day trading on Wednesday, hitting $46.02. The stock had a trading volume of 216,896 shares. The firm’s 50 day moving average price is $46.79 and its 200 day moving average price is $43.99. TransCanada Corp. has a 1-year low of $28.40 and a 1-year high of $48.52. The company’s market cap is $36.82 billion.
TransCanada Corp. (NYSE:TRP) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.52. TransCanada Corp. had a positive return on equity of 10.93% and a negative net margin of 12.06%. The company earned $2.75 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company earned $0.56 EPS. TransCanada Corp.’s revenue was up 4.6% compared to the same quarter last year. Analysts predict that TransCanada Corp. will post $1.94 earnings per share for the current fiscal year.
The business also recently declared a dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.433 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This is a boost from TransCanada Corp.’s previous dividend of $0.39. TransCanada Corp.’s payout ratio is -114.67%.
Several large investors have recently bought and sold shares of TRP. Integrated Wealth Management boosted its stake in TransCanada Corp. by 9.1% in the second quarter. Integrated Wealth Management now owns 2,228 shares of the company’s stock worth $101,000 after buying an additional 186 shares during the period. Lazard Asset Management LLC bought a new stake in TransCanada Corp. during the first quarter worth approximately $117,000. Societe Generale bought a new stake in TransCanada Corp. during the second quarter worth approximately $129,000. SG Americas Securities LLC bought a new stake in TransCanada Corp. during the second quarter worth approximately $129,000. Finally, Thompson Davis & CO. Inc. bought a new stake in TransCanada Corp. during the second quarter worth approximately $168,000. 50.18% of the stock is currently owned by institutional investors.
TransCanada Corp. Company Profile
TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.
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