TransCanada Co. (TRP) Earns Outperform Rating from Scotiabank
Scotiabank reissued their outperform rating on shares of TransCanada Co. (TSE:TRP) in a research report sent to investors on Wednesday morning. They currently have a C$69.00 price target on the stock.
Other research analysts also recently issued reports about the stock. BMO Capital Markets lifted their target price on shares of TransCanada from C$59.00 to C$62.00 and gave the stock an outperform rating in a research note on Monday, June 20th. TD Securities lifted their target price on shares of TransCanada from C$62.00 to C$63.00 and gave the stock a buy rating in a research note on Wednesday, June 15th. National Bank Financial lifted their price target on shares of TransCanada from C$57.00 to C$62.00 in a report on Monday, July 18th. Bank of America Corp. reiterated a buy rating and issued a C$68.00 price target on shares of TransCanada in a report on Thursday, September 1st. Finally, Royal Bank Of Canada reiterated an outperform rating and issued a C$64.00 price target on shares of TransCanada in a report on Friday, June 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of C$62.62.
TransCanada (TSE:TRP) opened at 62.26 on Wednesday. The stock has a 50 day moving average of $61.33 and a 200 day moving average of $56.60. The firm’s market capitalization is $49.81 billion. TransCanada has a 12 month low of $40.58 and a 12 month high of $63.41.
In related news, insider Karl Johannson sold 700 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of C$60.99, for a total value of C$42,693.00. Also, Director Christine R. Johnston sold 430 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of C$61.15, for a total transaction 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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