Share on StockTwits

TransCanada (NYSE:TRP) reached a new 52-week high during mid-day trading on Thursday , AnalystRatings.Net reports. The company traded as high as $48.18 and last traded at $47.95, with a volume of 294,234 shares trading hands. The stock had previously closed at $48.00.

A number of research firms have recently commented on TRP. Analysts at Citigroup Inc. upgraded shares of TransCanada from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $61.00 price target on the stock, up previously from $51.00. Separately, analysts at Scotiabank reiterated a “sector perform” rating on shares of TransCanada in a research note on Tuesday, May 6th. Finally, analysts at TD Securities raised their price target on shares of TransCanada from C$54.00 to C$55.00 in a research note on Monday, May 5th. They now have a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. TransCanada presently has a consensus rating of “Hold” and an average target price of $54.50.

The stock’s 50-day moving average is $46.93 and its 200-day moving average is $45.5. The company has a market cap of $33.942 billion and a price-to-earnings ratio of 21.66.

TransCanada (NYSE:TRP) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.59 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 28.1% on a year-over-year basis. Analysts expect that TransCanada will post $2.44 EPS 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.