NEW YORK ( TheStreet) -- TransCanada Corporation (NYSE: TRP) hit a new 52-week high Tuesday as it traded at $39.05 compared with its previous 52-Week high of $38.99. TransCanada is changing hands at $39 with 170,360 shares traded as of 10:22 a.m. ET. Average volume has been 407,900 shares over the past 30 days. TransCanada has a market cap of $26.8 billion and is part of the utilities sector and utilities industry. Shares are up 1.3% year to date as of the close of trading on Friday. TransCanada Corporation operates as an energy infrastructure company in North America. The company operates in two segments, Pipelines and Energy. The company has a P/E ratio of 21.8, above the average utilities industry P/E ratio of 21.6 and below the S&P 500 P/E ratio of 23.2. TheStreet Ratings rates TransCanada as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full TransCanada Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.