TransCanada (TRP) Price Target Cut to C$69.00 by Analysts at BMO Capital Markets

TransCanada (TSE:TRP) (NYSE:TRP) had its price objective dropped by equities research analysts at BMO Capital Markets from C$73.00 to C$69.00 in a research note issued to investors on Tuesday. BMO Capital Markets’ price objective would indicate a potential upside of 27.71% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. CIBC upped their price objective on TransCanada from C$75.00 to C$76.00 in a research report on Thursday, January 11th. Citigroup upped their price objective on TransCanada from C$68.00 to C$71.00 in a research report on Friday, December 8th. JPMorgan Chase & Co. upped their price objective on TransCanada from C$74.00 to C$76.00 in a research report on Tuesday, December 5th. National Bank Financial upped their price objective on TransCanada from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 29th. Finally, TD Securities upgraded TransCanada from a “buy” rating to an “action list buy” rating and upped their price objective for the stock from C$79.00 to C$81.00 in a research report on Friday, November 10th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$72.67.

Shares of TransCanada (TRP) traded down C$0.44 during trading hours on Tuesday, reaching C$54.03. 1,596,188 shares of the company traded hands, compared to its average volume of 1,897,190. TransCanada has a one year low of C$52.87 and a one year high of C$65.18. The firm has a market cap of $48,010.00, a P/E ratio of 26.72 and a beta of 0.20.

TransCanada (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, November 9th. The company reported C$0.70 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.70. TransCanada had a net margin of 21.47% and a return on equity of 11.98%. The company had revenue of C$3.24 billion for the quarter, compared to the consensus estimate of C$2.46 billion.

In other news, Director Patrick M. Keys sold 600 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of C$64.83, for a total transaction of C$38,898.00. In the last 90 days, insiders sold 1,444 shares of company stock worth $92,047.

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About TransCanada

TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.

Analyst Recommendations for TransCanada (TSE:TRP)

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