TC Energy (TSE:TRP) Price Target Raised to C$70.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price boosted by stock analysts at CIBC from C$68.00 to C$70.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target indicates a potential upside of 1.76% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Jefferies Financial Group upped their price objective on TC Energy from C$64.00 to C$65.00 in a report on Wednesday, November 20th. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upped their price objective on TC Energy from C$70.00 to C$79.00 in a research report on Monday, November 18th. BMO Capital Markets lifted their target price on TC Energy from C$70.00 to C$73.00 in a report on Friday, November 29th. Finally, Scotiabank boosted their target price on TC Energy from C$74.00 to C$75.00 in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TC Energy currently has an average rating of “Hold” and an average price target of C$69.92.

TC Energy Stock Up 0.2 %

Shares of TSE TRP traded up C$0.11 during trading on Thursday, reaching C$68.79. The company had a trading volume of 353,172 shares, compared to its average volume of 5,535,331. The business’s 50-day moving average is C$67.43 and its 200 day moving average is C$62.18. 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 stock has a market cap of C$71.54 billion, a PE ratio of 20.78, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its 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. The business had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, equities analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Activity at TC Energy

In other news, Senior Officer Nancy Angenita Johnson sold 3,328 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$67.75, for a total value of C$225,472.00. Also, Director Trevor Ebl sold 9,554 shares of TC Energy stock in a transaction on Friday, November 8th. The shares were sold at an average price of C$68.48, for a total transaction of C$654,219.70. Over 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 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.