TC Energy (TSE:TRP) Price Target Raised to C$66.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by equities research analysts at Barclays from C$64.00 to C$66.00 in a research report issued on Tuesday, BayStreet.CA reports. Barclays‘s price objective suggests a potential upside of 1.40% from the stock’s current price.

A number of other research firms have also recently commented on TRP. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. CIBC cut their price objective on shares of TC Energy from C$62.00 to C$57.00 and set a “negative” rating on the stock in a report on Wednesday, October 2nd. Jefferies Financial Group upped 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 research report on Monday, September 30th. BMO Capital Markets dropped their target price on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 2nd. Finally, National Bankshares reduced their price target on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus price target of C$60.50.

TC Energy Trading Up 0.9 %

Shares of TRP opened at C$65.09 on Tuesday. TC Energy has a 12 month low of C$41.86 and a 12 month high of C$65.63. The stock’s 50-day moving average is C$62.03 and its two-hundred day moving average is C$56.09. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The stock has a market cap of C$67.69 billion, a PE ratio of 19.66, a P/E/G ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The business had revenue of C$4.09 billion for the quarter, compared to the consensus estimate of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Equities analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Transactions at TC Energy

In other TC Energy news, Director Richard Prior sold 3,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. In other news, Director Richard Prior sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. Also, Director Colin Lindley sold 2,773 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total value of C$164,761.40. Following the sale, the director now owns 697 shares in the company, valued at C$41,413.16. The trade was a 0.00 % decrease in their ownership of the stock. In the last quarter, insiders sold 95,479 shares of company stock worth $5,860,018. 0.03% of the stock is currently owned by corporate insiders.

About TC Energy

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.