TransCanada (NYSE:TRP) Given “Overweight” Rating At JP Morgan, Is a Move on The Horizon?

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How JP Morgan Currently Rates TransCanada (NYSE:TRP)

In an interesting research report issued on Tuesday, 15 December, research analysts at JP Morgan commenced coverage coverage on TransCanada (NYSE:TRP) shares. The broker issued a key “Overweight” rating for TRP stock.

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 $43.66 while the lowest target price is $26.2. The mean of all analyst targets is $39.15 with a 68.63% above today’s ($34.2) stock price. TransCanada Corporation was the topic of 11 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. IBC upgraded shares on December 7 to “Sector Outperform” rating. RBC Capital Markets maintained TRP stock in a recent report from November 4 with “Outperform” rating. Finally, Goldman Sachs upgraded the stock to “Neutral” rating in a report issued on a September 11.

The stock increased 1.45% or $0.49 on December 15, striking $34.2. Approximately 1.52M shares of stock traded hands or 15.15% up from the average. TransCanada Corporation (USA) (NYSE:TRP) has declined 24.75% since May 12, 2015 and is downtrending. It has underperformed by 21.08% the S&P500.

TransCanada Corporation is an energy infrastructure company. The company has a market cap of $23.93 billion. The Firm operates through three divisions: Natural Gas Pipelines, Liquids Pipelines and Energy. It has 19.92 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.”

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