TransCanada Co. (TRP) Given Average Recommendation of “Buy” by Analysts
Shares of TransCanada Co. (TSE:TRP) have received a consensus rating of “Buy” from the thirteen research firms that are currently covering the company. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$62.50.
A number of equities analysts have weighed in on TRP shares. Bank of America Corp. restated a “buy” rating and issued a C$68.00 price target on shares of TransCanada in a report on Thursday, September 1st. National Bank Financial upped their price target on TransCanada from C$57.00 to C$62.00 in a report on Monday, July 18th. Scotiabank upped their price target on TransCanada from C$68.00 to C$69.00 and gave the stock an “outperform” rating in a report on Thursday, September 22nd. TD Securities restated a “buy” rating and issued a C$67.00 price target on shares of TransCanada in a report on Tuesday, September 27th. Finally, BMO Capital Markets upped their price target on TransCanada from C$59.00 to C$62.00 and gave the stock an “outperform” rating in a report on Monday, June 20th.
Shares of TransCanada (TSE:TRP) traded down 1.74% during trading on Tuesday, hitting $60.39. 700,724 shares of the stock were exchanged. TransCanada has a one year low of $40.58 and a one year high of $63.41. The stock’s market cap is $48.31 billion. The stock’s 50 day moving average price is $61.36 and its 200 day moving average price is $57.02.
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In related news, 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. Also, 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.
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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