TC Energy (TSE:TRP) Price Target Raised to C$65.00 at ATB Capital

TC Energy (TSE:TRP) (NYSE:TRP) had its target price upped by ATB Capital from C$64.00 to C$65.00 in a note issued to investors on Friday,BayStreet.CA reports. ATB Capital’s price target points to a potential downside of 4.54% from the company’s previous close.

A number of other brokerages have also issued reports on TRP. BMO Capital Markets lowered their target price on shares of TC Energy from C$65.00 to C$55.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday. JPMorgan Chase & Co. lowered their target price on TC Energy from C$66.00 to C$60.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Jefferies Financial Group lifted their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Scotiabank raised their target price on shares of TC Energy from C$68.00 to C$74.00 in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$66.15.

TC Energy Stock Down 1.1 %

Shares of TSE TRP traded down C$0.74 during mid-day trading on Friday, reaching C$68.09. The company had a trading volume of 924,674 shares, compared to its average volume of 7,000,457. The firm has a 50 day simple moving average of C$63.46 and a two-hundred day simple moving average of C$57.39. TC Energy has a 52-week low of C$43.83 and a 52-week 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 has a market cap of C$70.81 billion, a P/E ratio of 20.58, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results 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 business had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Sell-side analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Buying and Selling

In other news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of TC Energy stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average price of C$63.06 per share, for a total transaction of C$34,367.70. In other news, Director Greg Grant sold 12,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$62.62, for a total value of C$751,384.80. Also, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of TC Energy stock in a transaction on Tuesday, September 24th. The shares were bought at an average price of C$63.06 per share, for a total transaction of C$34,367.70. Over the last three months, insiders have sold 76,114 shares of company stock valued at $4,704,641. 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.