TransCanada (NYSE:TRP) (TSE:TRP) has been given a $50.00 price objective by equities researchers at Morgan Stanley in a report issued on Friday, March 16th. The firm currently has a “buy” rating on the pipeline company’s stock. Morgan Stanley’s price objective points to a potential upside of 20.57% from the stock’s previous close.
A number of other research analysts have also recently commented on TRP. TheStreet upgraded shares of TransCanada from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Zacks Investment Research lowered TransCanada from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. TD Securities raised TransCanada to a “buy” rating in a research note on Wednesday, November 29th. Edward Jones upgraded TransCanada from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Finally, Bank of America began coverage on TransCanada in a report on Tuesday, January 9th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $58.40.
TRP traded down $0.52 during mid-day trading on Friday, reaching $41.47. 1,381,208 shares of the stock were exchanged, compared to its average volume of 1,785,859. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.47 and a quick ratio of 0.44. The company has a market capitalization of $36,694.48, a price-to-earnings ratio of 17.42, a P/E/G ratio of 2.07 and a beta of 0.64. TransCanada has a 1 year low of $39.16 and a 1 year high of $51.85.
TransCanada (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.96 billion. TransCanada had a net margin of 23.40% and a return on equity of 12.33%. equities analysts anticipate that TransCanada will post 2.47 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Aevitas Wealth Management Inc. purchased a new position in TransCanada in the 4th quarter worth approximately $117,000. Icon Wealth Partners LLC purchased a new position in TransCanada in the 4th quarter worth approximately $162,000. Quantbot Technologies LP bought a new stake in TransCanada in the 3rd quarter worth approximately $178,000. MHI Funds LLC bought a new stake in TransCanada in the 4th quarter worth approximately $208,000. Finally, GSA Capital Partners LLP bought a new stake in TransCanada in the 3rd quarter worth approximately $214,000. 58.84% of the stock is currently owned by hedge funds and other institutional investors.
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TransCanada Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation and individual facilities, interconnecting pipelines, and other businesses.
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