TC Energy (TSE:TRP) Price Target Raised to C$68.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective raised by research analysts at CIBC from C$67.00 to C$68.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential downside of 0.87% from the stock’s current price.

TRP has been the subject of several other research reports. Scotiabank boosted their price objective on shares of TC Energy from C$74.00 to C$75.00 in a research note on Wednesday. Royal Bank of Canada raised their price target on shares of TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and raised their target price for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, National Bankshares upped their target price on TC Energy from C$70.00 to C$71.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Trading Down 1.4 %

Shares of TSE TRP traded down C$1.00 during trading hours on Wednesday, reaching C$68.60. The stock had a trading volume of 1,041,431 shares, compared to its average volume of 6,852,991. The business’s fifty day moving average price is C$64.60 and its two-hundred day moving average price is C$58.62. The firm has a market cap of C$71.34 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.24. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The company 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%. Analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Activity

In other TC Energy news, Director Jessica A. Kirstine sold 3,394 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$69.00, for a total transaction of C$234,186.00. Following the completion of the sale, the director now directly owns 725 shares in the company, valued at approximately C$50,025. The trade was a 82.40 % decrease in their position. Also, Director Lindsay Mackay sold 3,520 shares of TC Energy stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$70.00, for a total value of C$246,400.00. Insiders have sold 89,490 shares of company stock worth $5,749,355 in the last ninety days. Company insiders own 0.03% of the company’s stock.

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.