Wells Fargo & Company Raises TC Energy (TSE:TRP) Price Target to C$76.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective hoisted by research analysts at Wells Fargo & Company from C$74.00 to C$76.00 in a research note issued on Wednesday,BayStreet.CA reports. Wells Fargo & Company‘s price target indicates a potential upside of 10.79% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Scotiabank boosted their price target on shares of TC Energy from C$68.00 to C$74.00 in a research report on Friday, November 8th. BMO Capital Markets boosted their price target on shares of TC Energy from C$55.00 to C$66.00 in a research report on Friday, November 8th. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their price target for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target on shares of TC Energy from C$67.00 to C$71.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Trading Down 1.4 %

Shares of TC Energy stock traded down C$1.00 during mid-day trading on Wednesday, hitting C$68.60. The stock had a trading volume of 1,041,431 shares, compared to its average volume of 6,852,991. The firm has a 50-day moving average of C$64.60 and a two-hundred day moving average of C$58.62. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.24. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The firm has a market cap of C$71.34 billion, a P/E ratio of 20.73, 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 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 the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Sell-side analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mark Yeomans sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total transaction of C$400,297.95. Also, Director Greg Grant sold 12,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$62.62, for a total transaction of C$751,384.80. Over the last three months, insiders have sold 89,490 shares of company stock worth $5,749,355. 0.03% of the stock is 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.