TransCanada Corporation (TRP) has risen sharply, recording gains of 4.04% in the past 4 weeks. However, the stock has corrected -0.46% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.64% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
TransCanada Corporation is up 18.04% in the last 3-month period. Year-to-Date the stock performance stands at 49.32%. The stock has recorded a 20-day Moving Average of 2.11% and the 50-Day Moving Average is 4.58%.
TransCanada Corporation (NYSE:TRP): The stock opened at $47.67 on Friday but the bulls could not build on the opening and the stock topped out at $47.72 for the day. The stock traded down to $47.28 during the day, due to lack of any buying support eventually closed down at $47.64 with a loss of -0.42% for the day. The stock had closed at $47.84 on the previous day. The total traded volume was 434,447 shares.
Also, Equity Analysts at the Goldman Sachs reinstates the rating on TransCanada Corporation (NYSE:TRP). The brokerage firm has issued a Buy rating on the shares. The rating by the firm was issued on July 20, 2016.
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.