Jefferies Financial Group Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective increased by equities research analysts at Jefferies Financial Group from C$65.00 to C$71.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Jefferies Financial Group’s target price would suggest a potential upside of 8.41% from the stock’s previous close.

Several other brokerages also recently weighed in on TRP. TD Securities set a C$73.00 target price on TC Energy and gave the company a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company upped their target price on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday, November 20th. ATB Capital increased their price objective on TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. CIBC raised their price objective on shares of TC Energy from C$68.00 to C$70.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Finally, BMO Capital Markets lifted their price target on TC Energy from C$70.00 to C$73.00 in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$73.00.

TC Energy Price Performance

TSE TRP opened at C$65.49 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The company has a market cap of C$68.11 billion, a PE ratio of 19.79, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.32. The stock’s 50-day moving average price is C$67.33 and its two-hundred day moving average price is C$63.73.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The business had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, analysts predict that TC Energy will post 3.5490515 EPS for the current year.

Insider Buying and Selling at TC Energy

In other TC Energy news, Director Alexander (Alex) Oehler acquired 6,540 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of C$66.05 per share, with a total value of C$431,947.64. Also, Senior Officer Nancy Angenita Johnson sold 3,328 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$67.75, for a total value of C$225,472.00. In the last 90 days, insiders sold 420,911 shares of company stock valued at $28,259,105. 0.03% of the stock is currently owned by company 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.