TransCanada Co. (TRP) Price Target Increased to C$69.00 by Analysts at Scotiabank
TransCanada Co. (TSE:TRP) had its price objective upped by equities researchers at Scotiabank from C$68.00 to C$69.00 in a research report issued to clients and investors on Thursday, StockTargetPrices.com reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 10.45% from the stock’s current price.
Several other equities research analysts have also recently issued reports on the stock. Bank of America Corp. reissued a “buy” rating and issued a C$68.00 target price on shares of TransCanada in a research report on Thursday, September 1st. National Bank Financial raised their target price on shares of TransCanada from C$57.00 to C$62.00 in a research report on Monday, July 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a C$64.00 target price on shares of TransCanada in a research report on Friday, June 10th. BMO Capital Markets raised their target price on shares of TransCanada from C$59.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Monday, June 20th. Finally, TD Securities raised their target price on shares of TransCanada from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$62.62.
TransCanada (TSE:TRP) traded up 0.82% on Thursday, reaching $62.98. 462,800 shares of the company’s stock traded hands. The stock has a 50-day moving average of $61.06 and a 200 day moving average of $55.73. TransCanada has a 52 week low of $40.58 and a 52 week high of $63.11. The firm’s market capitalization is $50.38 billion.
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In other news, insider Karl Johannson sold 700 shares of TransCanada stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of C$60.99, for a total transaction of C$42,693.00. Also, Director Christine R. Johnston sold 430 shares of TransCanada 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 transaction of C$26,294.50.
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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