CIBC Raises Tc Pipelines (TRP) Price Target to C$74.00

Tc Pipelines (TSE:TRP) (NYSE:TRP) had its price target hoisted by CIBC from C$73.00 to C$74.00 in a research note issued to investors on Friday morning.

A number of other research analysts have also weighed in on the company. TD Securities raised their target price on Tc Pipelines from C$73.00 to C$74.00 in a report on Friday, August 3rd. BMO Capital Markets restated an outperform rating and issued a C$69.00 target price on shares of Tc Pipelines in a report on Wednesday, October 3rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Tc Pipelines has a consensus rating of Buy and a consensus target price of C$69.22.

Shares of TRP stock traded down C$0.17 during trading hours on Friday, reaching C$50.75. The company had a trading volume of 2,876,900 shares, compared to its average volume of 2,005,302. Tc Pipelines has a 12 month low of C$48.92 and a 12 month high of C$65.18.

Tc Pipelines (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, August 2nd. The company reported C$0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.76 by C$0.10. The company had revenue of C$3.20 billion during the quarter, compared to the consensus estimate of C$2.90 billion.

In related news, Director Mary Catharine Davis sold 2,000 shares of Tc Pipelines stock in a transaction on Monday, September 17th. The stock was sold at an average price of C$54.60, for a total transaction of C$109,200.00.

Tc Pipelines Company Profile

TransCanada Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation and individual facilities, interconnecting pipelines, and other businesses.

See Also: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

Analyst Recommendations for Tc Pipelines (TSE:TRP)

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