Morgan Stanley upgraded shares of TransCanada (NYSE:TRP) (TSE:TRP) from an equal weight rating to an overweight rating in a research note released on Thursday morning. Morgan Stanley currently has $54.00 price target on the pipeline company’s stock. The analysts noted that the move was a valuation call.
Several other analysts have also issued reports on TRP. Bank of America began coverage on shares of TransCanada in a research report on Tuesday, January 9th. They issued a buy rating on the stock. JPMorgan Chase & Co. began coverage on shares of TransCanada in a research report on Thursday, October 5th. They issued an overweight rating on the stock. TD Securities upgraded shares of TransCanada to a buy rating in a research report on Wednesday, November 29th. TheStreet lowered shares of TransCanada from a b rating to a c+ rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of TransCanada from a buy rating to a hold rating in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $58.75.
TransCanada (TRP) traded up $0.10 during midday trading on Thursday, reaching $47.86. 1,143,748 shares of the company’s stock traded hands, compared to its average volume of 820,993. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68. The firm has a market cap of $41,999.64, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 2.33 and a beta of 0.66. TransCanada has a 52 week low of $45.07 and a 52 week high of $51.85.
The firm 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 dividend of $0.491 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.10%. TransCanada’s dividend payout ratio (DPR) is currently 126.45%.
Institutional investors have recently modified their holdings of the company. Advisor Group Inc. boosted its position in shares of TransCanada by 30.4% during the 2nd quarter. Advisor Group Inc. now owns 3,002 shares of the pipeline company’s stock valued at $143,000 after acquiring an additional 699 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of TransCanada during the 3rd quarter valued at about $178,000. Fairview Capital Investment Management LLC acquired a new stake in shares of TransCanada during the 2nd quarter valued at about $200,000. GSA Capital Partners LLP acquired a new stake in shares of TransCanada during the 3rd quarter valued at about $214,000. Finally, FDx Advisors Inc. acquired a new stake in shares of TransCanada during the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 56.86% of the company’s stock.
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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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