Revenue Update on TransCanada Corporation (USA)(NYSE:TRP)

TransCanada Corporation (USA)(NYSE:TRP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $2.09B. Analysts estimated a revenue of $2.66B. Earnings per share were $0.40. Analysts had estimated an EPS of $0.51.

In a different note, On Jul 20, 2016, Goldman Sachs said it Reinstates its rating on TransCanada Corporation (USA). The shares have been rated ‘Buy’ by the firm. On May 2, 2016, Barclays said it Maintains its rating on TransCanada Corporation (USA). In the research note, the firm Raises the price-target to $33.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

TransCanada Corporation (USA) (TRP) made into the market gainers list on Thursdays trading session with the shares advancing 0.65% or 0.3 points. Due to strong positive momentum, the stock ended at $46.5, which is also near the day’s high of $46.65. The stock began the session at $46.19 and the volume stood at 6,92,689 shares. The 52-week high of the shares is $47.49 and the 52 week low is $28.4. The company has a current market capitalization of $37,200 M and it has 80,00,00,000 shares in outstanding.

TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines Liquids Pipelines and Energy. Natural Gas Pipelines and Liquids Pipelines consist of its respective natural gas and liquids pipelines in Canada the United States and Mexico as well as its regulated natural gas storage operations in the United States. Its natural gas pipeline network transports natural gas to local distribution companies power generation facilities and other businesses across Canada the United States and Mexico. Its existing liquids pipeline infrastructure connects Alberta and the United States crude oil supplies to the United States refining markets in Illinois Oklahoma and Texas as well as connecting the United States crude oil supplies from the Cushing Oklahoma hub to refining markets in the United States Gulf Coast. Energy includes its power operations and the non-regulated natural gas storage business in Canada.

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