TC Energy (TSE:TRP) Price Target Raised to C$74.00 at Scotiabank

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by stock analysts at Scotiabank from C$68.00 to C$74.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 9.11% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Barclays lifted their target price on shares of TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Royal Bank of Canada boosted their price objective on shares of TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group increased their target price on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a report on Monday, September 30th. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Finally, ATB Capital dropped 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, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and an average price target of C$66.15.

TC Energy Stock Down 1.5 %

Shares of TSE:TRP opened at C$67.82 on Friday. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$69.61. 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 stock’s 50-day moving average price is C$63.74 and its 200-day moving average price is C$57.67. The stock has a market capitalization of C$70.53 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results 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. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. On average, equities analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Activity

In other TC Energy news, Director Rosemary K. Stevens sold 1,200 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$59.88, for a total value of C$71,856.00. Following the sale, the director now owns 987 shares in the company, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their ownership of the stock. In related news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of TC Energy stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Rosemary K. Stevens sold 1,200 shares of TC Energy stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$59.88, for a total value of C$71,856.00. Following the completion of the transaction, the director now directly owns 987 shares of the company’s stock, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their position. In the last 90 days, insiders have sold 76,114 shares of company stock worth $4,704,641. Corporate insiders own 0.03% 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.