TransCanada Corporation (TRP) Raised to Buy at TD Securities

TD Securities upgraded shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) to a buy rating in a research report released on Friday, The Fly reports.

Several other research firms have also recently weighed in on TRP. BMO Capital Markets boosted their price objective on shares of TransCanada Corporation from $72.00 to $73.00 and gave the stock an outperform rating in a research report on Monday, July 31st. BidaskClub cut shares of TransCanada Corporation from a buy rating to a hold rating in a research report on Monday, July 31st. Morgan Stanley assumed coverage on shares of TransCanada Corporation in a research report on Friday, September 22nd. They issued an equal weight rating and a $53.00 price objective for the company. Zacks Investment Research cut shares of TransCanada Corporation from a buy rating to a hold rating in a research report on Friday, October 20th. Finally, J P Morgan Chase & Co started coverage on shares of TransCanada Corporation in a research report on Thursday, October 5th. They set an overweight rating for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. TransCanada Corporation has an average rating of Buy and a consensus target price of $65.13.

TransCanada Corporation (TRP) opened at $49.48 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68. TransCanada Corporation has a 1 year low of $42.69 and a 1 year high of $51.85. The firm has a market cap of $43,001.27, a P/E ratio of 21.56, a P/E/G ratio of 2.25 and a beta of 0.66.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a dividend of $0.491 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Thursday, December 28th. TransCanada Corporation’s payout ratio is 125.16%.

Several hedge funds have recently made changes to their positions in the company. TD Asset Management Inc. grew its holdings in shares of TransCanada Corporation by 0.3% in the 3rd quarter. TD Asset Management Inc. now owns 26,765,482 shares of the pipeline company’s stock valued at $1,319,815,000 after buying an additional 91,181 shares during the period. Vanguard Group Inc. grew its holdings in shares of TransCanada Corporation by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 21,658,344 shares of the pipeline company’s stock valued at $1,032,453,000 after buying an additional 983,799 shares during the period. FMR LLC grew its holdings in shares of TransCanada Corporation by 16.2% in the 2nd quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock valued at $802,753,000 after buying an additional 2,350,684 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of TransCanada Corporation by 1.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,014,698 shares of the pipeline company’s stock valued at $743,495,000 after buying an additional 201,002 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of TransCanada Corporation by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 5,996,170 shares of the pipeline company’s stock valued at $295,675,000 after buying an additional 143,049 shares during the period. 56.36% of the stock is 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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Analyst Recommendations for TransCanada Corporation (NYSE:TRP)

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