TransCanada Corporation (TRP) Research Coverage Started at Morgan Stanley

Morgan Stanley began coverage on shares of TransCanada Corporation (NYSE:TRP) (TSE:TRP) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $53.00 price objective on the pipeline company’s stock.

Several other research analysts have also recently issued reports on the company. BidaskClub cut TransCanada Corporation from a buy rating to a hold rating in a research report on Wednesday, August 9th. BMO Capital Markets upped their target price on TransCanada Corporation from $72.00 to $73.00 and gave the company an outperform rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised TransCanada Corporation from a hold rating to a buy rating and set a $54.00 target price for the company in a research report on Saturday, July 8th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. TransCanada Corporation presently has a consensus rating of Buy and a consensus price target of $64.75.

Shares of TransCanada Corporation (NYSE TRP) opened at 49.62 on Friday. The firm has a 50-day moving average price of $50.45 and a 200 day moving average price of $48.15. The firm has a market cap of $43.22 billion, a P/E ratio of 49.62 and a beta of 0.67. TransCanada Corporation has a one year low of $42.69 and a one year high of $51.85.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.4995 dividend. The ex-dividend date is Thursday, September 28th. This is a boost from TransCanada Corporation’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.03%. TransCanada Corporation’s dividend payout ratio is 215.12%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc. lifted its position in TransCanada Corporation by 0.6% during the 2nd quarter. TD Asset Management Inc. now owns 26,674,301 shares of the pipeline company’s stock worth $1,269,734,000 after acquiring an additional 148,257 shares during the period. Wellington Management Group LLP lifted its position in TransCanada Corporation by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 22,043,895 shares of the pipeline company’s stock worth $1,015,122,000 after acquiring an additional 313,483 shares during the period. Vanguard Group Inc. lifted its position in TransCanada Corporation by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 21,658,344 shares of the pipeline company’s stock worth $1,032,453,000 after acquiring an additional 983,799 shares during the period. FMR LLC lifted its position in TransCanada Corporation by 16.2% during the 2nd quarter. FMR LLC now owns 16,839,385 shares of the pipeline company’s stock worth $802,753,000 after acquiring an additional 2,350,684 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in TransCanada Corporation by 0.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,210,672 shares of the pipeline company’s stock worth $700,705,000 after acquiring an additional 88,640 shares during the period. 56.79% of the stock is owned by hedge funds and other institutional investors.

TransCanada Corporation 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 Corporation (NYSE:TRP)

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