Shares of TransCanada Co. (TSE:TRP) (NYSE:TRP) have earned a consensus rating of “Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$70.89.
TRP has been the topic of a number of recent analyst reports. CIBC lifted their price objective on TransCanada from C$75.00 to C$76.00 in a research note on Thursday, January 11th. National Bank Financial dropped their price objective on TransCanada from C$69.00 to C$65.00 and set a “sector perform” rating on the stock in a research note on Monday, January 29th. TD Securities dropped their price objective on TransCanada from C$81.00 to C$77.00 and set an “action list buy” rating on the stock in a research note on Friday, February 16th. BMO Capital Markets dropped their price objective on TransCanada from C$69.00 to C$68.00 in a research note on Friday, March 16th. Finally, Citigroup dropped their price objective on TransCanada from C$71.00 to C$68.00 in a research note on Tuesday, March 27th.
Shares of TransCanada stock traded up C$0.22 during trading on Monday, reaching C$53.39. The company’s stock had a trading volume of 1,352,700 shares, compared to its average volume of 2,059,727. TransCanada has a one year low of C$50.28 and a one year high of C$65.18.
TransCanada (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.82 EPS for the quarter, topping analysts’ consensus estimates of C$0.71 by C$0.11. The business had revenue of C$3.62 billion for the quarter, compared to analyst estimates of C$2.50 billion. TransCanada had a return on equity of 1.10% and a net margin of 4.06%.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 5.17%. This is a positive change from TransCanada’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Wednesday, March 28th.
In other news, insider Anthony M. Palmer purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of C$56.74 per share, for a total transaction of C$113,480.00. Also, Director Stãƒâ©Phan Crétier purchased 3,771 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average price of C$56.84 per share, for a total transaction of C$214,343.64. Over the last 90 days, insiders have purchased 21,396 shares of company stock worth $1,112,270 and have sold 5,101 shares worth $291,724.
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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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