Several other analysts have also recently issued reports on TRP. Credit Suisse Group AG restated a buy rating on shares of TransCanada Corp. in a research note on Saturday, June 4th. Royal Bank Of Canada reaffirmed an outperform rating and set a $64.00 target price on shares of TransCanada Corp. in a report on Monday, June 13th. TD Securities reaffirmed a buy rating and set a $63.00 target price (up from $62.00) on shares of TransCanada Corp. in a report on Wednesday, June 15th. Goldman Sachs Group Inc. started coverage on TransCanada Corp. in a report on Wednesday, July 20th. They set a buy rating and a $70.00 target price for the company. Finally, Scotiabank reaffirmed an outperform rating and set a $68.00 target price (up from $66.00) on shares of TransCanada Corp. in a report on Sunday, July 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $58.73.
TransCanada Corp. (NYSE:TRP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. TransCanada Corp. had a positive return on equity of 10.93% and a negative net margin of 12.06%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. TransCanada Corp.’s revenue for the quarter was up 4.6% compared to the same quarter last year.
The company also recently declared a dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.433 per share. This is a positive change from TransCanada Corp.’s previous dividend of $0.39. The ex-dividend date of this dividend is Wednesday, September 28th. TransCanada Corp.’s dividend payout ratio (DPR) is presently -115.33%.
A number of institutional investors have recently modified their holdings of TRP. KAMES CAPITAL plc purchased a new position in shares of TransCanada Corp. during the second quarter worth about $781,000. Cohen & Steers Inc. raised its position in shares of TransCanada Corp. by 12.6% in the second quarter. Cohen & Steers Inc. now owns 3,520,662 shares of the company’s stock worth $158,480,000 after buying an additional 395,282 shares during the last quarter. IFP Advisors Inc raised its position in shares of TransCanada Corp. by 8.8% in the second quarter. IFP Advisors Inc now owns 22,349 shares of the company’s stock worth $1,011,000 after buying an additional 1,805 shares during the last quarter. Harvest Fund Advisors LLC raised its position in shares of TransCanada Corp. by 83.3% in the second quarter. Harvest Fund Advisors LLC now owns 3,818,381 shares of the company’s stock worth $172,667,000 after buying an additional 1,734,820 shares during the last quarter. Finally, National Asset Management Inc. purchased a new position in shares of TransCanada Corp. during the second quarter worth about $257,000. 50.19% of the stock is owned by hedge funds and other institutional investors.
TransCanada Corp. Company Profile
TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.
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