In a latest note to investors, a research analyst has provided a rating update for the NA sector company, TransCanada Corporation (TSX: TRP). Analyst Benjamin Pham from BMO Capital reiterated a Buy rating, with a C$69 price target today.
Pham has an average return of 6.4% when recommending TransCanada Corporation.
According to TipRanks.com, Pham is ranked #697 out of 4881 analysts.
Currently, the analyst consensus on TransCanada Corporation is a Strong Buy with an average price target of C$73, which is a 35.7% upside from current levels. In a report released today, CIBC also maintained a Buy rating on the stock with a C$76 price target.
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Based on TransCanada Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$3.08 billion and net profit of C$826 million. In comparison, last year the company earned revenue of C$3.28 billion and had a net profit of C$652 million.
TransCanada Corp. operates as an energy infrastructure company. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.
The company’s shares closed on Wednesday at C$53.78.
