Scotiabank reaffirmed their outperform rating on shares of TransCanada Co. (TSE:TRP) in a research report sent to investors on Wednesday morning. The brokerage currently has a C$69.00 price objective on the stock.
A number of other equities research analysts have also recently weighed in on TRP. BMO Capital Markets boosted their price target 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. TD Securities reissued a buy rating and issued a C$67.00 price target on shares of TransCanada in a research report on Tuesday, September 27th. Royal Bank Of Canada reissued an outperform rating and issued a C$64.00 price target on shares of TransCanada in a research report on Friday, June 10th. CIBC boosted their price target on shares of TransCanada from C$59.00 to C$66.00 in a research report on Wednesday, July 20th. Finally, Bank of America Corp. reissued a buy rating and issued a C$68.00 price target on shares of TransCanada in a research report on Thursday, September 1st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of C$62.62.
Shares of TransCanada (TSE:TRP) opened at 62.31 on Wednesday. TransCanada has a 1-year low of $40.58 and a 1-year high of $63.41. The stock’s market capitalization is $49.85 billion. The stock’s 50 day moving average is $61.32 and its 200 day moving average is $56.39.
In other news, Director Christine R. Johnston sold 430 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of C$61.15, for a total transaction of C$26,294.50. Also, insider Karl Johannson sold 700 shares of the business’s stock in a transaction dated 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 Company Profile
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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