TransCanada Co. (TRP) Receives C$70.89 Consensus Target Price from Analysts

TransCanada Co. (TSE:TRP) (NYSE:TRP) has been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$70.89.

A number of equities research analysts recently weighed in on TRP shares. CIBC upped their price objective on TransCanada from C$75.00 to C$76.00 in a research note on Thursday, January 11th. National Bank Financial decreased their price objective on TransCanada from C$69.00 to C$65.00 and set a “sector perform” rating for the company in a research note on Monday, January 29th. BMO Capital Markets decreased their price objective on TransCanada from C$73.00 to C$69.00 in a research note on Tuesday, February 6th. TD Securities decreased their price objective on TransCanada from C$81.00 to C$77.00 and set an “action list buy” rating for the company in a research note on Friday, February 16th. Finally, Scotiabank decreased their price objective on TransCanada from C$72.00 to C$70.00 and set an “outperform” rating for the company in a research note on Friday, March 16th.

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Shares of TRP traded up C$0.20 during midday trading on Monday, reaching C$53.12. 93,067 shares of the stock were exchanged, compared to its average volume of 2,053,536. TransCanada has a 52 week low of C$50.28 and a 52 week high of C$65.18.

TransCanada (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.82 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.71 by C$0.11. The firm had revenue of C$3.62 billion during the quarter, compared to analysts’ expectations of C$2.50 billion. TransCanada had a return on equity of 1.10% and a net margin of 4.06%.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from TransCanada’s previous quarterly dividend of $0.63. This represents a $2.76 dividend on an annualized basis and a yield of 5.20%.

In other news, insider Anthony M. Palmer sold 2,600 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of C$57.61, for a total value of C$149,786.00. Also, Director Stãƒâ©Phan Crétier acquired 3,771 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average cost of C$56.84 per share, for a total transaction of C$214,343.64. Over the last quarter, insiders acquired 21,396 shares of company stock valued at $1,112,270 and sold 5,101 shares valued at $291,724.

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TransCanada Company Profile

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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