A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Patrick Kenny from National Bank rated TransCanada Corporation (TRP) a Hold, setting a C$65 price target.
According to TipRanks.com, Kenny is a 4-star analyst with an average return of 9.3% and a 88.5% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.
TransCanada Corporation has an analyst consensus of Moderate Buy, with a price target consensus of C$63.67.
Based on TransCanada Corporation’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$3.69 billion and net profit of C$1.13 billion. In comparison, last year the company earned revenue of C$3.39 billion and had a net profit of C$901 million.
TransCanada Corp. is 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 Thursday at C$60.61, close to its 52-week high of C$61.17.
