TransCanada’s (TRP) Outperform Rating Reiterated at Royal Bank Of Canada
TransCanada Co. (TSE:TRP) (NYSE:TRP)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank Of Canada in a report issued on Thursday. They presently have a C$72.00 price objective on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 20.00% from the company’s previous close.
TRP has been the subject of several other research reports. Scotiabank reiterated an “outperform” rating and set a C$69.00 price target on shares of TransCanada in a research note on Wednesday, September 28th. TD Securities restated a “buy” rating and set a C$67.00 target price on shares of TransCanada in a research note on Tuesday, September 27th. CIBC increased their target price on TransCanada from C$59.00 to C$66.00 in a research note on Wednesday, July 20th. Bank of America Corp. restated a “buy” rating and set a C$68.00 target price on shares of TransCanada in a research note on Thursday, September 1st. Finally, CSFB increased their target price on TransCanada from C$64.00 to C$70.00 in a research note on Monday, July 25th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of C$63.23.
Shares of TransCanada (TSE:TRP) traded down 0.42% on Thursday, reaching $59.75. The company had a trading volume of 707,219 shares. The firm’s market capitalization is $47.80 billion. The company’s 50-day moving average is $60.73 and its 200 day moving average is $58.84. TransCanada has a 12 month low of $40.58 and a 12 month high of $63.41.
In related news, 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 transaction 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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