TransCanada Co. (TRP) Receives Buy Rating from TD Securities
Several other brokerages also recently weighed in on TRP. Scotiabank lifted their price target on shares of TransCanada from C$68.00 to C$69.00 and gave the company an outperform rating in a report on Thursday, September 22nd. CSFB lifted their price target on shares of TransCanada from C$64.00 to C$70.00 in a report on Monday, July 25th. National Bank Financial lifted their price target on shares of TransCanada from C$57.00 to C$62.00 in a report on Monday, July 18th. Bank of America Corp. reiterated a buy rating and set a C$68.00 price objective on shares of TransCanada in a research report on Thursday, September 1st. Finally, CIBC lifted their price objective on shares of TransCanada from C$59.00 to C$66.00 in a research report on Wednesday, July 20th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. TransCanada presently has a consensus rating of Buy and an average price target of C$62.62.
Shares of TransCanada (TSE:TRP) opened at 62.18 on Tuesday. TransCanada has a 52-week low of $40.58 and a 52-week high of $63.41. The company has a 50 day moving average of $61.26 and a 200-day moving average of $56.19. The company’s market cap is $49.74 billion.
In related news, Director Christine R. Johnston sold 430 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of C$61.15, for a total value of C$26,294.50. Also, insider Karl Johannson sold 700 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of C$60.99, for a total transaction of C$42,693.00.
TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.
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