TransCanada Corporation (TRP) Receives Analyst Rating

TransCanada Corporation (TRP) : Zacks Investment Research ranks TransCanada Corporation (TRP) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 5 research analysts is 2, which indicates as a Buy.

TransCanada Corporation (TRP) : The highest short term price target forecast on TransCanada Corporation (TRP) is $58 and the lowest target price is $44. A total of 4 equity analysts are currently covering the company. The average price of all the analysts is $50.23 with a standard deviation of $6.18.


Also, Bank of America initiates coverage on TransCanada Corporation (NYSE:TRP).The analysts at the brokerage house have a current rating of Buy on the shares. The rating by the firm was issued on September 1, 2016.

TransCanada Corporation (NYSE:TRP): After opening at $46.11, the stock dipped to an intraday low of $46.11 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $47.02 and the buying power remained strong till the end. The stock closed at $46.77 for the day, a gain of 1.23% for the day session. The total traded volume was 873,821. The stocks close on the previous trading day was $46.2.

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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