TransCanada Co. (TSE:TRP) (NYSE:TRP) insider Anthony M. Palmer bought 2,000 shares of TransCanada stock in a transaction dated Tuesday, March 20th. The shares were acquired at an average cost of C$53.05 per share, for a total transaction of C$106,100.00.
TransCanada Co. (TSE:TRP) traded down C$1.71 during midday trading on Tuesday, hitting C$53.08. The company had a trading volume of 2,775,562 shares, compared to its average volume of 2,085,378. TransCanada Co. has a one year low of C$52.05 and a one year high of C$65.18. The company has a market capitalization of $49,260.00, a price-to-earnings ratio of 21.05 and a beta of 0.22.
TransCanada (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, February 15th. The company reported C$0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.71 by C$0.11. TransCanada had a return on equity of 1.10% and a net margin of 4.06%. The company had revenue of C$3.62 billion for the quarter, compared to analyst estimates of C$2.50 billion.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a dividend of $0.69 per share. The ex-dividend date is Wednesday, March 28th. This is a positive change from TransCanada’s previous quarterly dividend of $0.63. This represents a $2.76 annualized dividend and a dividend yield of 5.20%. TransCanada’s payout ratio is currently 99.21%.
Several research firms have recently issued reports on TRP. National Bank Financial boosted their target price on TransCanada from C$68.00 to C$69.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 29th. CIBC boosted their target price on TransCanada from C$70.00 to C$75.00 in a research note on Tuesday, November 21st. Citigroup boosted their target price on TransCanada from C$68.00 to C$71.00 in a research note on Friday, December 8th. JPMorgan Chase & Co. boosted their target price on TransCanada from C$74.00 to C$76.00 in a research note on Tuesday, December 5th. Finally, TD Securities reduced their target price on TransCanada from C$81.00 to C$77.00 and set an “action list buy” rating on the stock in a research note on Friday, February 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of C$72.38.
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.
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