TransCanada Co. (TRP) Given Average Rating of “Buy” by Brokerages
Shares of TransCanada Co. (TSE:TRP) (NYSE:TRP) have been given a consensus recommendation of “Buy” by the thirteen ratings firms that are covering the stock. Seven research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$63.75.
A number of equities research analysts recently commented on the stock. Scotiabank set a C$68.00 price objective on shares of TransCanada and gave the company an “outperform” rating in a research note on Monday, September 12th. CSFB upped their target price on shares of TransCanada from C$64.00 to C$70.00 in a report on Monday, July 25th. TD Securities upped their target price on shares of TransCanada from C$63.00 to C$67.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a C$72.00 target price on shares of TransCanada in a report on Thursday.
In related news, Director Christine R. Johnston sold 430 shares of the firm’s stock in a transaction that occurred 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.
TransCanada (TSE:TRP) opened at 60.38 on Tuesday. The firm’s market cap is $48.30 billion. The company has a 50 day moving average of $60.61 and a 200-day moving average of $58.90. TransCanada has a one year low of $40.58 and a one year high of $63.41.
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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