TD Securities upgraded shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) to a buy rating in a research note issued to investors on Friday morning.
TRP has been the topic of a number of other reports. Zacks Investment Research upgraded TransCanada Corporation from a hold rating to a strong-buy rating and set a $57.00 price target on the stock in a report on Wednesday, October 11th. J P Morgan Chase & Co started coverage on TransCanada Corporation in a report on Thursday, October 5th. They set an overweight rating on the stock. BidaskClub upgraded TransCanada Corporation from a hold rating to a buy rating in a report on Sunday, July 16th. BMO Capital Markets upped their target price on TransCanada Corporation from $72.00 to $73.00 and gave the stock an outperform rating in a report on Monday, July 31st. Finally, Morgan Stanley started coverage on TransCanada Corporation in a report on Friday, September 22nd. They set an equal weight rating and a $53.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. TransCanada Corporation has an average rating of Buy and a consensus target price of $65.13.
Shares of TransCanada Corporation (NYSE TRP) traded up $0.70 during trading on Friday, hitting $49.37. The stock had a trading volume of 2,343,900 shares, compared to its average volume of 1,039,467. The company has a market capitalization of $42,391.57, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. TransCanada Corporation has a 12 month low of $42.69 and a 12 month high of $51.85. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 1.72.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a $0.491 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Thursday, December 28th. TransCanada Corporation’s payout ratio is 125.16%.
Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in shares of TransCanada Corporation by 44.2% in the third quarter. Wells Fargo & Company MN now owns 783,294 shares of the pipeline company’s stock valued at $38,719,000 after purchasing an additional 239,982 shares during the last quarter. Legal & General Group Plc grew its position in shares of TransCanada Corporation by 2.4% in the third quarter. Legal & General Group Plc now owns 5,996,170 shares of the pipeline company’s stock valued at $295,675,000 after purchasing an additional 143,049 shares during the last quarter. Harvest Fund Advisors LLC grew its position in shares of TransCanada Corporation by 1.7% in the third quarter. Harvest Fund Advisors LLC now owns 3,145,328 shares of the pipeline company’s stock valued at $155,474,000 after purchasing an additional 53,009 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its position in shares of TransCanada Corporation by 49.1% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 29,056 shares of the pipeline company’s stock valued at $1,436,000 after purchasing an additional 9,562 shares during the last quarter. Finally, TD Asset Management Inc. grew its position in shares of TransCanada Corporation by 0.3% in the third quarter. TD Asset Management Inc. now owns 26,765,482 shares of the pipeline company’s stock valued at $1,319,815,000 after purchasing an additional 91,181 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.
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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