Shares of TransCanada Co. (TSE:TRP) (NYSE:TRP) have received an average rating of “Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$71.75.
Several research analysts have recently issued reports on the company. CIBC increased their price target on TransCanada from C$68.00 to C$70.00 in a research note on Thursday, June 15th. Scotiabank increased their price target on TransCanada from C$71.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. TD Securities increased their price target on TransCanada from C$77.00 to C$79.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a C$73.00 price target on shares of TransCanada in a research note on Monday, July 31st.
TransCanada (TRP) traded down 0.05% during trading on Friday, reaching $62.48. 1,699,600 shares of the company were exchanged. The firm’s 50 day moving average is $62.88 and its 200 day moving average is $62.89. TransCanada has a 52-week low of $57.36 and a 52-week high of $65.24. The stock has a market capitalization of $54.42 billion and a PE ratio of 51.38.
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 paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.50 annualized dividend and a yield of 4.00%. This is a boost from TransCanada’s previous quarterly dividend of $0.48.
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In related news, Director Louis Bergeron bought 500 shares of TransCanada stock in a transaction dated Thursday, June 22nd. The stock was acquired at an average cost of C$62.05 per share, with a total value of C$31,025.00. Also, Director Kevin E. Benson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of C$64.13, for a total value of C$641,300.00. In the last ninety days, insiders have purchased 3,780 shares of company stock valued at $238,877 and have sold 66,027 shares valued at $4,255,154.
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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