TransCanada Corporation (NYSE:TRP) (TSE:TRP) – Equities research analysts at National Bank Financial issued their Q3 2017 earnings per share (EPS) estimates for shares of TransCanada Corporation in a research note issued on Monday. National Bank Financial analyst P. Kenny expects that the pipeline company will post earnings of $0.65 per share for the quarter.
Other equities analysts also recently issued reports about the company. BidaskClub upgraded TransCanada Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded TransCanada Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Saturday, July 8th. Morgan Stanley initiated coverage on TransCanada Corporation in a research report on Friday, September 22nd. They set an “equal weight” rating and a $53.00 price objective for the company. BMO Capital Markets raised their price objective on TransCanada Corporation from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Finally, J P Morgan Chase & Co initiated coverage on TransCanada Corporation in a research report on Thursday, October 5th. They set an “overweight” rating for the company. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $65.13.
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Shares of TransCanada Corporation (TRP) opened at 50.53 on Wednesday. The company has a market capitalization of $44.01 billion, a PE ratio of 50.53 and a beta of 0.67. TransCanada Corporation has a 52 week low of $42.69 and a 52 week high of $51.85. The stock has a 50 day moving average price of $50.26 and a 200-day moving average price of $48.63.
A number of hedge funds have recently modified their holdings of TRP. SG Americas Securities LLC bought a new stake in TransCanada Corporation in the first quarter worth approximately $351,000. Cambridge Investment Research Advisors Inc. increased its holdings in TransCanada Corporation by 2.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,637 shares of the pipeline company’s stock worth $352,000 after purchasing an additional 154 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in TransCanada Corporation by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 280,265 shares of the pipeline company’s stock worth $12,934,000 after purchasing an additional 10,647 shares in the last quarter. Morgan Stanley increased its holdings in TransCanada Corporation by 27.5% in the first quarter. Morgan Stanley now owns 915,600 shares of the pipeline company’s stock worth $42,256,000 after purchasing an additional 197,519 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in TransCanada Corporation in the first quarter worth approximately $349,000. Institutional investors and hedge funds own 56.77% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.4995 dividend. This is an increase from TransCanada Corporation’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, September 28th. TransCanada Corporation’s payout ratio is presently 232.56%.
About TransCanada Corporation
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.
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