Veresen Inc (TSE:VSN) Given Average Rating of “Hold” by Brokerages
Veresen Inc (TSE:VSN) has received an average rating of “Hold” from the twelve brokerages that are covering the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$13.00.
Several equities analysts recently weighed in on the company. Scotiabank lifted their price target on Veresen from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Tuesday. BMO Capital Markets lifted their price target on Veresen from C$10.00 to C$11.00 and gave the company a “market perform” rating in a research note on Wednesday, September 28th. Desjardins lowered Veresen from a “buy” rating to a “hold” rating and set a C$13.00 price target for the company. in a research note on Saturday, August 6th. Canaccord Genuity lifted their price target on Veresen from C$9.00 to C$11.00 and gave the company a “sell” rating in a research note on Saturday, August 6th. Finally, CIBC lifted their price target on Veresen from C$13.50 to C$14.00 in a research note on Thursday, August 4th.
Veresen (TSE:VSN) traded down 0.97% during midday trading on Tuesday, hitting $13.24. The stock had a trading volume of 449,539 shares. The company has a market cap of $4.13 billion and a PE ratio of 104.25. The firm has a 50-day moving average of $12.86 and a 200-day moving average of $10.77. Veresen has a 12-month low of $6.65 and a 12-month high of $13.53.
Veresen Company Profile
Veresen Inc (Veresen) is an energy infrastructure company. The Company’s segments include Pipelines, Midstream, Power and Corporate. Its pipeline business consists of interests in over two pipeline systems: the Alliance Pipeline, which is over 3,000 kilometers dense phase pipeline delivering natural gas and midstreams from Western Canada to the Midwest United States, and the Alberta Ethane Gathering System, an ethane pipeline system.
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