In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, TransCanada Corporation (TRP). Analyst Ian Gillies from GMP FirstEnergy rated TransCanada Corporation (TRP) a Buy yesterday, setting a C$71 price target.
According to TipRanks.com, Gillies has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.1% and a 42.5% success rate. Gillies covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Precision Drilling, and Inter Pipeline Ltd.
TransCanada Corporation has an analyst consensus of Moderate Buy, with a price target consensus of C$69, which is a 9.4% upside from current levels. In a report released yesterday, Scotiabank also reiterated a Buy rating on the stock with a C$70 price target.
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TransCanada Corporation’s market cap is currently C$57.9B and has a P/E ratio of 15.1. The company has a Price to Book ratio of 2.28.
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 Monday at C$63.07, close to its 52-week high of C$64.46.
