TransCanada Corporation (NYSE:TRP) Stock Upgrade
In an analyst note sent to investors on Wednesday, 2 December, Macquarie Research boosted shares of TransCanada Corporation (NYSE:TRP) to a solid Outperform rating from their previous Neutral rating.
From a total of 5 analysts covering TransCanada Corporation (NYSE:TRP) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $44.89 while the lowest target price is $26.93. The mean of all analyst targets is $39.95 with a 77.56% above today’s ($32.48) stock price. TransCanada Corporation was the topic of 9 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 4 with “Outperform” rating. Goldman Sachs upgraded TRP stock in a recent report from September 11 to “Neutral” rating. Finally, TheStreet downgraded the stock to “Buy” rating in a report issued on an August 15.
Approximately 471,111 shares of stock traded hands. TransCanada Corporation (USA) (NYSE:TRP) has declined 30.50% since April 29, 2015 and is downtrending. It has underperformed by 30.30% the S&P500.
TransCanada Corporation is an energy infrastructure company. The company has a market cap of $23.04 billion. The Firm operates through three divisions: Natural Gas Pipelines, Liquids Pipelines and Energy. It has 18.39 P/E ratio. 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 activities in the United States.
According to Zacks Investment Research, “TransCanada is a North American energy company. They are focused on natural gas transmission and power services. Their pipeline transports the majority of Western Canada’s natural gas production to growing markets in Canada and the United States.” Get a free copy of the Zacks research report on TransCanada Corporation (USA) (TRP).