TC Energy (TSE:TRP) Given New C$75.00 Price Target at Scotiabank

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective raised by equities researchers at Scotiabank from C$74.00 to C$75.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 9.33% from the stock’s previous close.

TRP has been the subject of several other reports. National Bankshares raised their price target on TC Energy from C$60.00 to C$70.00 in a report on Friday, November 8th. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and raised their price objective for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. Jefferies Financial Group raised their price target on 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. Royal Bank of Canada increased their price objective on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Finally, Wells Fargo & Company lifted their target price on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Performance

TC Energy stock traded down C$1.00 during mid-day trading on Wednesday, reaching C$68.60. 1,041,431 shares of the company were exchanged, compared to its average volume of 6,852,991. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$70.24. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The firm’s 50-day simple moving average is C$64.60 and its two-hundred day simple moving average is C$58.62. The firm has a market cap of C$71.34 billion, a PE 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 announced its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.97 by C$0.06. The company had revenue of C$4.08 billion for 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%. Equities analysts predict that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Transactions at TC Energy

In other news, Director Richard Prior sold 18,068 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. Also, Director Colin Lindley sold 3,194 shares of TC Energy stock in a transaction on Monday, November 11th. The shares were sold at an average price of C$68.70, for a total value of C$219,425.56. Following the transaction, the director now owns 697 shares in the company, valued at C$47,883.41. This represents a 82.09 % decrease in their position. In the last ninety days, insiders have sold 89,490 shares of company stock worth $5,749,355. 0.03% of the stock is currently 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.