TransCanada (TSE:TRP) (NYSE:TRP) had its price target upped by research analysts at CIBC from C$76.00 to C$77.00 in a note issued to investors on Friday, February 16th. CIBC’s price target suggests a potential upside of 34.85% from the company’s previous close.
TRP has been the topic of several other research reports. National Bank Financial dropped their target price on TransCanada from C$69.00 to C$65.00 and set a “sector perform” rating on the stock in a report on Monday, January 29th. TD Securities raised TransCanada from a “buy” rating to an “action list buy” rating and upped their price target for the company from C$79.00 to C$81.00 in a report on Friday, November 10th. JPMorgan Chase & Co. upped their price target on TransCanada from C$74.00 to C$76.00 in a report on Tuesday, December 5th. Citigroup upped their price target on TransCanada from C$68.00 to C$71.00 in a report on Friday, December 8th. Finally, BMO Capital Markets dropped their price target on TransCanada from C$73.00 to C$69.00 in a report on Tuesday, February 6th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$72.33.
Shares of TransCanada (TRP) traded down C$0.24 during trading hours on Friday, reaching C$57.10. The company had a trading volume of 1,898,851 shares, compared to its average volume of 2,070,000. TransCanada has a 1 year low of C$52.05 and a 1 year high of C$65.18. The company has a market capitalization of $50,330.00, a PE ratio of 22.66 and a beta of 0.22.
In related news, insider Anthony M. Palmer purchased 2,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of C$56.74 per share, for a total transaction of C$113,480.00. Also, Director David B. Moneta purchased 2,030 shares of the stock in a transaction dated Friday, February 23rd. The shares were bought at an average price of C$37.93 per share, for a total transaction of C$76,997.90. Over the last quarter, insiders have acquired 7,896 shares of company stock worth $410,145 and have sold 5,101 shares worth $291,724.
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TransCanada Corporation is an energy infrastructure company. The Company is engaged in the development and operation of North American energy infrastructure, including natural gas and liquids pipelines, power generation and natural gas storage facilities. Its segments include Canadian Natural Gas Pipelines, U.S.
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