Could TransCanada Corporation Change Direction After Today’s Huge Decline?

 Could TransCanada Corporation Change Direction After Today's Huge Decline?

The stock of TransCanada Corporation (TSE:TRP) is a huge mover today! About 335,012 shares traded hands. TransCanada Corporation (TSE:TRP) has risen 30.83% since March 14, 2016 and is uptrending. It has outperformed by 25.29% the S&P500.
The move comes after 7 months negative chart setup for the $50.68 billion company. It was reported on Oct, 19 by Barchart.com. We have $56.76 PT which if reached, will make TSE:TRP worth $4.56B less.

TransCanada Corporation (TSE:TRP) Ratings Coverage

Out of 8 analysts covering TransCanada Corp (TSE:TRP), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. TransCanada Corp has been the topic of 22 analyst reports since August 4, 2015 according to StockzIntelligence Inc. On Tuesday, October 11 the stock rating was maintained by TD Securities with “Buy”. The firm has “Buy” rating by Bank of America given on Thursday, September 1. The company was maintained on Friday, June 10 by RBC Capital Markets. JP Morgan initiated TransCanada Corporation (TSE:TRP) rating on Tuesday, December 15. JP Morgan has “Overweight” rating and $64 price target. As per Friday, October 14, the company rating was maintained by TransCanada Corporation. The rating was upgraded by IBC to “Sector Outperformer” on Monday, December 7. BMO Capital Markets initiated it with “Outperform” rating and $56 target price in Friday, October 23 report. National Bank Canada maintained the shares of TRP in a report on Thursday, November 19 with “Sector Perform” rating.

More notable recent TransCanada Corporation (TSE:TRP) news were published by: Fool.ca which released: “TransCanada Corporation vs Fortis Inc.: Which Is a Better Dividend Stock?” on October 17, 2016, also Seekingalpha.com with their article: “More U.S. Assets For TransCanada” published on October 12, 2016, Fool.ca published: “RRSP Investors: Should You Buy TransCanada Corporation or Bank of Montreal?” on September 29, 2016. More interesting news about TransCanada Corporation (TSE:TRP) were released by: Fool.ca and their article: “TransCanada Corporation: Focus on New and Acquired Pipelines” published on September 27, 2016 as well as Nasdaq.com‘s news article titled: “TransCanada Corporation (TRP) Ex-Dividend Date Scheduled for September 28, 2016” with publication date: September 27, 2016.

TransCanada Corporation is an energy infrastructure company. The company has a market cap of $50.68 billion. The Firm operates through three divisions: Natural Gas Pipelines, Liquids Pipelines and Energy. It currently has negative earnings. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities.

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