TransCanada’s (TRP) “Buy” Rating Reaffirmed at TD Securities
TransCanada Co. (TSE:TRP)‘s stock had its “buy” rating restated by investment analysts at TD Securities in a report issued on Tuesday. They currently have a C$67.00 price target on the stock. TD Securities’ price target indicates a potential upside of 9.01% from the stock’s current price.
A number of other equities research analysts also recently weighed in on TRP. BMO Capital Markets boosted their price objective on shares of TransCanada from C$59.00 to C$62.00 and gave the company an “outperform” rating in a research report on Monday, June 20th. National Bank Financial boosted their price objective on shares of TransCanada from C$57.00 to C$62.00 in a research report on Monday, July 18th. CIBC boosted their price objective on shares of TransCanada from C$59.00 to C$66.00 in a research report on Wednesday, July 20th. CSFB boosted their price objective on shares of TransCanada from C$64.00 to C$70.00 in a research report on Monday, July 25th. Finally, Scotiabank boosted their price objective on shares of TransCanada from C$66.00 to C$68.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. TransCanada presently has a consensus rating of “Buy” and a consensus target price of C$62.62.
Shares of TransCanada (TSE:TRP) traded down 1.95% on Tuesday, reaching $60.26. 742,701 shares of the company’s stock were exchanged. The company’s market capitalization is $48.21 billion. The stock’s 50-day moving average price is $61.36 and its 200-day moving average price is $57.02. TransCanada has a 1-year low of $40.58 and a 1-year high of $63.41.
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In other news, Director Christine R. Johnston sold 430 shares of the company’s 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 value of C$26,294.50. Also, insider Karl Johannson sold 700 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of C$60.99, for a total transaction of C$42,693.00.
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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