Veresen Inc (TSE:VSN) Given Average Recommendation of “Hold” by Brokerages
Shares of Veresen Inc (TSE:VSN) have earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$16.75.
Several equities research analysts recently weighed in on the stock. National Bank Financial downgraded shares of Veresen from an “outperform” rating to a “tender” rating and upped their target price for the stock from C$18.00 to C$20.50 in a research note on Tuesday, May 2nd. Raymond James Financial, Inc. upped their target price on shares of Veresen from C$16.00 to C$20.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 2nd. BMO Capital Markets upped their target price on shares of Veresen from C$14.00 to C$18.65 and gave the stock a “market perform” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada downgraded shares of Veresen from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from C$16.00 to C$18.65 in a research note on Wednesday, May 3rd. Finally, TD Securities upped their target price on shares of Veresen from C$11.00 to C$18.50 and gave the stock a “tender” rating in a research note on Wednesday, July 5th.
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Shares of Veresen (TSE VSN) traded down 0.11% during trading on Monday, hitting $18.43. 169,302 shares of the stock were exchanged. The company has a market cap of $5.78 billion and a price-to-earnings ratio of 287.97. Veresen has a one year low of $10.51 and a one year high of $18.76. The stock’s 50 day moving average price is $18.38 and its 200-day moving average price is $15.83.
The company also recently announced a monthly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Tuesday, July 25th will be paid a $0.083 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, July 21st.
Veresen Company Profile
Veresen Inc is a Canada-based energy infrastructure company that owns and operates energy infrastructure assets across North America. The Company is engaged in three principal businesses: a pipeline transportation business consists of interests in the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System (AEGS); a midstream business, which includes a partnership interest in Veresen Midstream Limited Partnership, which owns assets in western Canada, and an ownership interest in Aux Sable, which owns a natural gas liquids (NGL) extraction facility near Chicago, and other natural gas and NGL processing energy infrastructure, and a power business consists of a portfolio of assets in Canada.
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