TransCanada Co. (TRP) Receives C$62.50 Average Target Price from Analysts
Shares of TransCanada Co. (TSE:TRP) have received a consensus recommendation of “Buy” from the thirteen brokerages that are covering the company. Six analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$62.50.
A number of equities research analysts recently commented on TRP shares. Scotiabank increased their price target on TransCanada from C$68.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Thursday, September 22nd. CSFB increased their price objective on TransCanada from C$64.00 to C$70.00 in a research report on Monday, July 25th. TD Securities reiterated a “buy” rating and issued a C$67.00 price objective on shares of TransCanada in a research report on Tuesday. National Bank Financial increased their price objective on TransCanada from C$57.00 to C$62.00 in a research report on Monday, July 18th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a C$68.00 price objective on shares of TransCanada in a research report on Thursday, September 1st.
TransCanada (TSE:TRP) opened at 61.10 on Tuesday. The company’s 50-day moving average price is $61.33 and its 200 day moving average price is $57.11. TransCanada has a 52-week low of $40.58 and a 52-week high of $63.41. The firm’s market capitalization is $48.88 billion.
In related news, insider Karl Johannson sold 700 shares of the firm’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. Also, Director Christine R. Johnston sold 430 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of C$61.15, for a total value of C$26,294.50.
TransCanada Company Profile
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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