CIBC Boosts TransCanada (TRP) Price Target to C$76.00

TransCanada (TSE:TRP) (NYSE:TRP) had its price objective raised by CIBC from C$75.00 to C$76.00 in a research report sent to investors on Thursday morning.

Other equities analysts have also recently issued reports about the company. Citigroup lifted their target price on TransCanada from C$68.00 to C$71.00 in a report on Friday, December 8th. JPMorgan Chase & Co. lifted their price target on TransCanada from C$74.00 to C$76.00 in a report on Tuesday, December 5th. National Bank Financial lifted their price target 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. Finally, TD Securities upgraded TransCanada from a buy rating to an action list buy rating and lifted their price target for the company from C$79.00 to C$81.00 in a report on Friday, November 10th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of C$73.56.

TransCanada (TSE:TRP) opened at C$59.69 on Thursday. The stock has a market capitalization of $52,380.00, a price-to-earnings ratio of 29.55 and a beta of 0.28. TransCanada has a 1-year low of C$59.12 and a 1-year high of C$65.24.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.50 dividend on an annualized basis and a yield of 4.19%. TransCanada’s payout ratio is 120.79%.

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

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About TransCanada

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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