TC Energy (TSE:TRP) Price Target Cut to C$55.00 by Analysts at BMO Capital Markets

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lowered by research analysts at BMO Capital Markets from C$65.00 to C$55.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential downside of 6.41% from the stock’s previous close.

TRP has been the topic of several other research reports. CIBC cut their price target on TC Energy from C$62.00 to C$57.00 and set a “negative” rating on the stock in a report on Wednesday. Wells Fargo & Company raised their target price on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Barclays boosted their price target on shares of TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. Jefferies Financial Group raised their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a report on Monday. Finally, Scotiabank lowered their target price on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.38.

TC Energy Trading Down 9.9 %

TSE:TRP traded down C$6.49 on Wednesday, reaching C$58.77. 1,446,305 shares of the company’s stock were exchanged, compared to its average volume of 6,672,346. The business has a fifty day moving average of C$61.31 and a 200-day moving average of C$55.58. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. TC Energy has a 52-week low of C$44.70 and a 52-week high of C$65.39. The firm has a market capitalization of C$61.12 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The company had revenue of C$4.09 billion for the quarter, compared to analyst estimates of C$3.78 billion. As a group, analysts expect that TC Energy will post 4.4244068 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Colin Lindley sold 2,773 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the sale, the director now directly owns 697 shares of the company’s stock, valued at C$41,413.16. In related news, Director Colin Lindley sold 2,773 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the transaction, the director now owns 697 shares of the company’s stock, valued at C$41,413.16. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the completion of the transaction, the insider now owns 466 shares of the company’s stock, valued at approximately C$27,824.86. In the last three months, insiders have sold 95,479 shares of company stock valued at $5,860,018. Insiders own 0.04% of the company’s stock.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.