TransCanada Co. (TRP) Given Average Rating of “Buy” by Brokerages

TransCanada Co. (TSE:TRP) (NYSE:TRP) has earned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$69.44.

A number of equities research analysts have recently commented on the company. BMO Capital Markets lowered their price objective on TransCanada from C$69.00 to C$68.00 in a research report on Friday, March 16th. Citigroup lowered their price objective on TransCanada from C$71.00 to C$68.00 in a research report on Tuesday, March 27th. Royal Bank of Canada reduced their target price on TransCanada from C$76.00 to C$65.00 and set an “outperform” rating on the stock in a report on Monday. CIBC lifted their target price on TransCanada from C$75.00 to C$76.00 in a report on Thursday, January 11th. Finally, Scotiabank reduced their target price on TransCanada from C$72.00 to C$70.00 and set an “outperform” rating on the stock in a report on Friday, March 16th.

TransCanada stock opened at C$55.09 on Friday. TransCanada has a fifty-two week low of C$50.28 and a fifty-two week high of C$65.18.

TransCanada (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Friday, April 27th. The company reported C$0.98 earnings per share for the quarter, topping the consensus estimate of C$0.81 by C$0.17. The company had revenue of C$3.42 billion during the quarter, compared to the consensus estimate of C$2.87 billion. TransCanada had a return on equity of 1.10% and a net margin of 4.06%.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, June 29th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, June 28th.

In related news, Director David B. Moneta acquired 2,030 shares of TransCanada stock in a transaction on Friday, February 23rd. The shares were bought at an average price of C$37.93 per share, for a total transaction of C$76,997.90. Also, insider Anthony M. Palmer acquired 2,000 shares of TransCanada stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of C$56.74 per share, for a total transaction of C$113,480.00. In the last quarter, insiders purchased 21,396 shares of company stock worth $1,112,270 and sold 5,101 shares worth $291,724.

About TransCanada

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.

Analyst Recommendations for TransCanada (TSE:TRP)

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