TransCanada Reaches New 1-Year High at $51.99 (TRP)
TransCanada (NYSE:TRP) hit a new 52-week high during mid-day trading on Thursday , Analyst Ratings Net reports. The company traded as high as $51.99 and last traded at $51.97, with a volume of 274,670 shares traded. The stock had previously closed at $51.83.
Several analysts have recently commented on the stock. Analysts at Scotiabank reiterated a “sector perform” rating on shares of TransCanada in a research note on Wednesday, July 16th. Separately, analysts at Citigroup Inc. upgraded shares of TransCanada from a “neutral” rating to a “buy” rating in a research note on Monday, June 30th. They now have a $61.00 price target on the stock, up previously from $51.00. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $54.50.
The stock has a 50-day moving average of $48.25 and a 200-day moving average of $46.04. The company has a market cap of $36.958 billion and a price-to-earnings ratio of 23.48.
TransCanada (NYSE:TRP) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.60 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.52 earnings per share. TransCanada’s revenue was up 28.1% compared to the same quarter last year. Analysts expect that TransCanada will post $2.43 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.
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