TransCanada Co. (TRP) Receives C$70.89 Consensus Price Target from Brokerages

TransCanada Co. (TSE:TRP) (NYSE:TRP) has been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$70.89.

TRP has been the subject of several recent analyst reports. CIBC raised their target price on TransCanada from C$75.00 to C$76.00 in a research report on Thursday, January 11th. TD Securities decreased their target price on TransCanada from C$81.00 to C$77.00 and set an “action list buy” rating for the company in a research report on Friday, February 16th. National Bank Financial decreased their target price on TransCanada from C$69.00 to C$65.00 and set a “sector perform” rating for the company in a research report on Monday, January 29th. Scotiabank decreased their target price on TransCanada from C$72.00 to C$70.00 and set an “outperform” rating for the company in a research report on Friday, March 16th. Finally, BMO Capital Markets decreased their target price on TransCanada from C$69.00 to C$68.00 in a research report on Friday, March 16th.

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In other news, Director Robert E. Jones acquired 1,000 shares of TransCanada stock in a transaction that occurred on Wednesday, March 28th. The stock was purchased at an average price of C$53.16 per share, with a total value of C$53,160.00. Also, insider Francois Lionel Poirier acquired 7,500 shares of TransCanada stock in a transaction that occurred on Friday, March 16th. The shares were purchased at an average cost of C$56.28 per share, with a total value of C$422,100.00. In the last three months, insiders have purchased 21,396 shares of company stock valued at $1,112,270 and have sold 5,101 shares valued at $291,724.

Shares of TSE TRP traded up C$0.22 during mid-day trading on Monday, reaching C$53.39. The company had a trading volume of 1,352,700 shares, compared to its average volume of 2,059,727. TransCanada has a 1-year low of C$50.28 and a 1-year high of C$65.18.

TransCanada (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, February 15th. The company reported C$0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.71 by C$0.11. The business had revenue of C$3.62 billion for the quarter, compared to analysts’ expectations of C$2.50 billion. TransCanada had a return on equity of 1.10% and a net margin of 4.06%.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 5.17%. The ex-dividend date is Wednesday, March 28th. This is a boost from TransCanada’s previous quarterly dividend of $0.63.

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TransCanada Company Profile

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.

Analyst Recommendations for TransCanada (TSE:TRP)

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