Large Inflow of Money Detected in TransCanada Corporation

TransCanada Corporation (TRP) : On Tuesday, The money flowed into the TransCanada Corporation (TRP) stock with an uptick to downtick ratio was recorded at 2.53. Transactions worth $2.25 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $0.89 million. The total money flow into the stock was $1.36 million. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $0.93 million of block transactions on upticks. The total money flow in block trades was $0.93 million. In terms of price action, TransCanada Corporation (TRP) traded down $0.01 during the session at $46.22. Compared to the previous days closing, the stock was down only by -0.02%. For the week, the stock is -0.06%, over previous weeks closing.


Also, Goldman Sachs reinstates its rating on TransCanada Corporation (NYSE:TRP). Analysts at the Goldman Sachs have a current rating of Buy on the shares. The rating by the firm was issued on July 20, 2016.

TransCanada Corporation has lost 3.65% in the last five trading days and dropped 0.04% in the last 4 weeks. TransCanada Corporation is up 9.19% in the last 3-month period. Year-to-Date the stock performance stands at 43.24%.

TransCanada Corporation (NYSE:TRP): The stock opened at $46.06 on Tuesday but the bulls could not build on the opening and the stock topped out at $46.48 for the day. The stock traded down to $45.55 during the day, due to lack of any buying support eventually closed down at $45.70 with a loss of -1.15% for the day. The stock had closed at $46.23 on the previous day. The total traded volume was 814,573 shares.

TransCanada Corporation (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. Natural Gas Pipelines and Liquids Pipelines consist of its respective natural gas and liquids pipelines in Canada, the United States and Mexico, as well as its regulated natural gas storage operations in the United States. Its natural gas pipeline network transports natural gas to local distribution companies, power generation facilities and other businesses across Canada, the United States and Mexico. Its existing liquids pipeline infrastructure connects Alberta and the United States crude oil supplies to the United States refining markets in Illinois, Oklahoma and Texas, as well as connecting the United States crude oil supplies from the Cushing, Oklahoma hub to refining markets in the United States Gulf Coast. Energy includes its power operations and the non-regulated natural gas storage business in Canada.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.