TransCanada Co. (TSE:TRP) (NYSE:TRP) has been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$70.89.
TRP has been the topic of several recent analyst reports. CIBC boosted their target price on TransCanada from C$75.00 to C$76.00 in a research report on Thursday, January 11th. National Bank Financial dropped their target price on TransCanada from C$69.00 to C$65.00 and set a “sector perform” rating on the stock in a research report on Monday, January 29th. BMO Capital Markets dropped their target price on TransCanada from C$73.00 to C$69.00 in a research report on Tuesday, February 6th. TD Securities dropped 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 report on Friday, February 16th. Finally, Scotiabank dropped their target price on TransCanada from C$72.00 to C$70.00 and set an “outperform” rating on the stock in a research report on Friday, March 16th.
TSE TRP opened at C$52.98 on Monday. TransCanada has a 12-month low of C$50.28 and a 12-month high of C$65.18.
TransCanada (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, February 15th. The company reported C$0.82 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations 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 issued a $0.69 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.21%. This is a boost from TransCanada’s previous quarterly dividend of $0.63.
In other news, Director Stãƒâ©Phan Crétier purchased 3,771 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average price of C$56.84 per share, for a total transaction of C$214,343.64. Also, insider Francois Lionel Poirier purchased 7,500 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was purchased at an average price of C$56.28 per share, for a total transaction of C$422,100.00. In the last 90 days, insiders purchased 21,396 shares of company stock worth $1,112,270 and sold 5,101 shares worth $291,724.
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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.
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