TC Energy (TSE:TRP) Price Target Raised to C$67.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price lifted by equities research analysts at Royal Bank of Canada from C$66.00 to C$67.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 12.08% from the stock’s current price.

TRP has been the topic of a number of other reports. CIBC reduced their price target on shares of TC Energy from C$62.00 to C$57.00 and set a “negative” rating for the company in a research note on Wednesday. Barclays boosted their target price on TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. National Bankshares decreased their price target on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research note on Thursday. Jefferies Financial Group lifted their price target on TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research report on Monday. Finally, ATB Capital cut their price objective on TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$59.23.

TC Energy Stock Performance

TRP stock traded up C$0.38 on Thursday, reaching C$59.78. The company’s stock had a trading volume of 1,054,238 shares, compared to its average volume of 6,661,865. The firm has a fifty day moving average of C$61.36 and a two-hundred day moving average of C$55.61. 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 company has a market capitalization of C$62.17 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. TC Energy has a 52 week low of C$44.70 and a 52 week high of C$65.39.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.89 by C$0.05. The company had revenue of C$4.09 billion during 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%. As a group, analysts predict that TC Energy will post 4.4244068 EPS for the current fiscal year.

Insiders Place Their Bets

In other TC Energy news, Director Richard Prior sold 18,068 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total value of C$1,138,284.00. In other news, Director Colin Lindley sold 2,773 shares of TC Energy 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 in the company, valued at C$41,413.16. Also, Director Richard Prior sold 18,068 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In the last quarter, insiders have sold 95,479 shares of company stock worth $5,860,018. Company insiders own 0.04% of the company’s stock.

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.