TransCanada Co. (TRP) Receives Average Rating of “Buy” from Brokerages

TransCanada Co. (TSE:TRP) (NYSE:TRP) has been given an average rating of “Buy” by the ten ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$73.44.

Several research firms recently issued reports on TRP. Citigroup boosted their price objective on TransCanada from C$68.00 to C$71.00 in a report on Friday, December 8th. JPMorgan Chase & Co. boosted their price objective on TransCanada from C$74.00 to C$76.00 in a report on Tuesday, December 5th. National Bank Financial boosted their price objective on TransCanada from C$68.00 to C$69.00 and gave the company a “sector perform” rating in a report on Wednesday, November 29th. CIBC boosted their price objective on TransCanada from C$70.00 to C$75.00 in a report on Tuesday, November 21st. Finally, TD Securities raised TransCanada from a “buy” rating to an “action list buy” rating and boosted their target price for the stock from C$79.00 to C$81.00 in a research note on Friday, November 10th.

In related news, Director Patrick M. Keys sold 600 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of C$64.83, for a total value of C$38,898.00. Over the last three months, insiders sold 1,444 shares of company stock valued at $92,047.

TransCanada (TSE TRP) opened at C$61.18 on Friday. TransCanada has a 12 month low of C$59.23 and a 12 month high of C$65.24. The firm has a market capitalization of $53,690.00, a price-to-earnings ratio of 30.29 and a beta of 0.28.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a $0.625 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.09%. TransCanada’s dividend payout ratio (DPR) is presently 120.79%.

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TransCanada Company Profile

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.

Analyst Recommendations for TransCanada (TSE:TRP)

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