TransCanada (TSE:TRP) Price Target Raised to C$76.00

TransCanada (TSE:TRP) (NYSE:TRP) had its target price lifted by research analysts at CIBC from C$75.00 to C$76.00 in a research report issued to clients and investors on Thursday, January 11th. CIBC’s target price would indicate a potential upside of 27.05% from the stock’s previous close.

A number of other research analysts also recently weighed in on TRP. TD Securities upgraded shares of TransCanada from a “buy” rating to an “action list buy” rating and increased their price objective for the company from C$79.00 to C$81.00 in a research report on Friday, November 10th. National Bank Financial increased their price target on shares of TransCanada from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 29th. JPMorgan Chase & Co. increased their price objective on shares of TransCanada from C$74.00 to C$76.00 in a research note on Tuesday, December 5th. Finally, Citigroup raised their target price on shares of TransCanada from C$68.00 to C$71.00 in a research note on Friday, December 8th. One research 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’s stock. The company has a consensus rating of “Buy” and a consensus target price of C$73.56.

Shares of TransCanada (TRP) opened at C$59.82 on Thursday. The firm has a market cap of $52,660.00, a PE ratio of 29.61 and a beta of 0.28. TransCanada has a fifty-two week low of C$59.12 and a fifty-two week high of C$65.24.

TransCanada (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, November 9th. The company reported C$0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.70. TransCanada had a net margin of 21.47% and a return on equity of 11.98%.

In other TransCanada news, Director Patrick M. Keys sold 600 shares of TransCanada stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of C$64.83, for a total value of C$38,898.00. Insiders sold a total of 1,444 shares of company stock valued at $92,047 over the last three months.

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About TransCanada

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.

Analyst Recommendations for TransCanada (TSE:TRP)

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