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Shares of TransCanada (NYSE:TRP) saw a large increase in short interest during the month of January. As of March 31st, there was short interest totalling 3,658,977 shares, an increase of 45.9% from the March 14th total of 2,507,523 shares, AnalystRatings.NET reports. Based on an average daily volume of 430,938 shares, the days-to-cover ratio is currently 8.5 days. Currently, 0.5% of the shares of the stock are sold short.

A number of analysts have recently weighed in on TRP shares. Analysts at Scotiabank downgraded shares of TransCanada to a “sector perform” rating in a research note on Monday. Separately, analysts at CIBC downgraded shares of TransCanada from an “outperform” rating to a “sector perform” rating in a research note on Monday. They now have a $54.00 price target on the stock, down previously from $56.00. Finally, analysts at Canaccord Genuity downgraded shares of TransCanada from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $51.00.

TransCanada (NYSE:TRP) opened at 45.73 on Friday. TransCanada has a 52 week low of $42.21 and a 52 week high of $49.65. The stock’s 50-day moving average is $45.57 and its 200-day moving average is $44.70. The company has a market cap of $32.331 billion and a P/E ratio of 20.58.

TransCanada (NYSE:TRP) last announced its earnings results on Thursday, February 20th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters 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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