Analysts Set Expectations for TransCanada Corp.’s Q3 2016 Earnings (TRP)

TransCanada Corp. (NYSE:TRP) – Analysts at National Bank Financial issued their Q3 2016 earnings estimates for TransCanada Corp. in a research note issued to investors on Wednesday. National Bank Financial analyst P. Kenny forecasts that the firm will post earnings of $0.53 per share for the quarter.

A number of other analysts also recently weighed in on the company. TD Securities reiterated a “buy” rating and set a $67.00 target price on shares of TransCanada Corp. in a research report on Wednesday, October 12th. BMO Capital Markets reiterated an “outperform” rating and set a $65.00 target price on shares of TransCanada Corp. in a research report on Tuesday, September 27th. Scotiabank reiterated an “outperform” rating and set a $69.00 target price (up from $68.00) on shares of TransCanada Corp. in a research report on Friday, September 23rd. 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. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $70.00 target price on shares of TransCanada Corp. in a research report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $58.73.

Shares of TransCanada Corp. (NYSE:TRP) opened at 46.56 on Monday. The firm’s market capitalization is $37.25 billion. The company has a 50-day moving average price of $46.77 and a 200-day moving average price of $44.20. TransCanada Corp. has a 12 month low of $28.40 and a 12 month high of $48.52.

TransCanada Corp. (NYSE:TRP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.52. The firm earned $2.75 billion during the quarter, compared to analyst estimates of $2.58 billion. TransCanada Corp. had a positive return on equity of 10.93% and a negative net margin of 12.06%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share.

The company also recently announced a dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a $0.433 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This is an increase from TransCanada Corp.’s previous dividend of $0.39. TransCanada Corp.’s dividend payout ratio (DPR) is currently -114.67%.

A number of institutional investors have recently bought and sold shares of the stock. Eqis Capital Management Inc. boosted its stake in shares of TransCanada Corp. by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 8,554 shares of the company’s stock valued at $387,000 after buying an additional 55 shares during the last quarter. Integrated Wealth Management boosted its stake in shares of TransCanada Corp. by 9.1% in the second quarter. Integrated Wealth Management now owns 2,228 shares of the company’s stock valued at $101,000 after buying an additional 186 shares during the last quarter. Bollard Group LLC boosted its stake in shares of TransCanada Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 38,936 shares of the company’s stock valued at $1,761,000 after buying an additional 189 shares during the last quarter. Forte Capital LLC ADV boosted its stake in shares of TransCanada Corp. by 0.6% in the third quarter. Forte Capital LLC ADV now owns 47,003 shares of the company’s stock valued at $2,235,000 after buying an additional 300 shares during the last quarter. Finally, Pennsylvania Trust Co boosted its stake in shares of TransCanada Corp. by 9.3% in the second quarter. Pennsylvania Trust Co now owns 5,890 shares of the company’s stock valued at $266,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 50.15% of the company’s stock.

About TransCanada Corp.

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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