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TransCanada (NYSE:TRP) was downgraded by investment analysts at CIBC from an “outperform” rating to a “sector perform” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. They currently have a $54.00 price target on the stock, down from their previous price target of $56.00. CIBC’s price objective indicates a potential upside of 15.95% from the company’s current price.

TRP has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity downgraded shares of TransCanada from a “buy” rating to a “hold” rating in a research note on Thursday. Separately, analysts at Zacks upgraded shares of TransCanada from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 9th. They now have a $48.00 price target on the stock. Finally, analysts at Zacks downgraded shares of TransCanada from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 11th. They now have a $42.30 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.00.

Shares of TransCanada (NYSE:TRP) traded down 3.65% during mid-day trading on Monday, hitting $44.87. The stock had a trading volume of 1,507,935 shares. TransCanada has a 1-year low of $42.21 and a 1-year high of $49.65. The stock has a 50-day moving average of $45.51 and a 200-day moving average of $44.66. The company has a market cap of $31.723 billion and a price-to-earnings ratio of 18.88. TransCanada also was the recipient of a large growth in short interest during the month of January. As of March 31st, there was short interest totalling 3,658,977 shares, a growth of 45.9% from the March 14th total of 2,507,523 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average trading volume of 430,938 shares, the short-interest ratio is presently 8.5 days.

TransCanada (NYSE:TRP) last announced its earnings results on Thursday, February 20th. The company reported $0.58 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.61 by $0.03. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. On average, analysts predict that TransCanada will post $2.45 earnings per share for the current fiscal year.

TransCanada Corporation (NYSE:TRP) is a North American energy infrastructure company focused on natural gas pipelines, oil pipelines and energy.

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