March 30, 2016

Citigroup upgraded TransCanada Co. (TRP) to buy


TransCanada Co. (NYSE:TRP) was upgraded by stock analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a report released on Wednesday, Market Beat.com reports.
Shares of TransCanada (NYSE:TRP) traded up 2.13% on Wednesday, reaching $38.76. The company’s stock had a trading volume of 351,355 shares. The firm’s market cap is $27.21 billion. The stock has a 50 day moving average of $36.55 and a 200-day moving average of $33.83. TransCanada has a 12 month low of $28.40 and a 12 month high of $48.10.
TransCanada (NYSE:TRP) last announced its earnings results on Thursday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company earned $2.85 billion during the quarter, compared to analyst estimates of $2.89 billion. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. On average, analysts anticipate that TransCanada will post $2.59 EPS for the current year.