TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) had its price target cut by Scotiabank from C$62.00 to C$61.00 in a report issued on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential downside of 4.45% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. Jefferies Financial Group raised their price objective on TC Energy from C$52.00 to C$57.00 and gave the stock a “hold” rating in a report on Monday, July 29th. ATB Capital increased their price objective on shares of TC Energy from C$56.00 to C$60.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 10th. National Bankshares upped their target price on TC Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, CIBC raised their target price on TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$58.62.
View Our Latest Report on TC Energy
TC Energy Stock Performance
TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. The company had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Sell-side analysts forecast that TC Energy will post 4.5431472 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Colin Lindley sold 2,773 shares of the business’s 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 transaction of C$164,761.40. Following the completion of the transaction, the director now directly owns 697 shares in the company, valued at C$41,413.16. In other news, Director Jawad Masud sold 6,041 shares of TC Energy stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. Also, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction dated 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 approximately C$41,413.16. Insiders sold a total of 95,479 shares of company stock worth $5,860,018 in the last three months. 0.04% of the stock is owned by insiders.
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.
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