TransCanada (NYSE:TRP) Research Coverage Started at Bank of America

Research analysts at Bank of America initiated coverage on shares of TransCanada (NYSE:TRP) (TSE:TRP) in a research report issued on Tuesday, January 9th, The Fly reports. The firm set a “buy” rating on the pipeline company’s stock.

Several other analysts have also issued reports on the company. Morgan Stanley upped their target price on TransCanada from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, November 17th. JPMorgan Chase & Co. initiated coverage on TransCanada in a research note on Thursday, October 5th. They issued an “overweight” rating for the company. TD Securities raised TransCanada to a “buy” rating in a research note on Wednesday, November 29th. TheStreet lowered TransCanada from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Finally, Zacks Investment Research lowered TransCanada from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. TransCanada currently has a consensus rating of “Buy” and an average target price of $58.75.

Shares of TransCanada (NYSE:TRP) traded up $0.15 during trading on Tuesday, reaching $48.01. The company had a trading volume of 1,462,800 shares, compared to its average volume of 1,092,000. TransCanada has a fifty-two week low of $45.07 and a fifty-two week high of $51.85. The company has a market cap of $42,230.00, a PE ratio of 29.64, a P/E/G ratio of 2.31 and a beta of 0.66. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 1.68.

TransCanada (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 9th. The pipeline company reported $0.56 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. TransCanada had a return on equity of 11.99% and a net margin of 14.40%. research analysts predict that TransCanada will post 2.32 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Heathbridge Capital Management Ltd. boosted its position in shares of TransCanada by 5.7% during the fourth quarter. Heathbridge Capital Management Ltd. now owns 595,450 shares of the pipeline company’s stock valued at $28,525,000 after buying an additional 32,200 shares during the last quarter. KCS Wealth Advisory purchased a new position in TransCanada in the fourth quarter worth about $649,000. Montrusco Bolton Investments Inc. boosted its position in TransCanada by 2.4% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 1,670,805 shares of the pipeline company’s stock worth $81,583,000 after purchasing an additional 39,743 shares during the last quarter. Nexus Investment Management Inc. boosted its position in TransCanada by 1.4% in the fourth quarter. Nexus Investment Management Inc. now owns 392,879 shares of the pipeline company’s stock worth $19,202,000 after purchasing an additional 5,313 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its position in TransCanada by 36.7% in the fourth quarter. Sit Investment Associates Inc. now owns 441,665 shares of the pipeline company’s stock worth $21,483,000 after purchasing an additional 118,465 shares during the last quarter. 56.88% of the stock is currently owned by hedge funds and other institutional investors.

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TransCanada 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.

The Fly

Analyst Recommendations for TransCanada (NYSE:TRP)

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