TC Energy (TSE:TRP) Price Target Cut to C$60.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price reduced by equities researchers at National Bankshares from C$65.00 to C$60.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock.

Several other analysts have also recently commented on the company. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Scotiabank dropped their target price on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. BMO Capital Markets decreased their price target 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 note on Wednesday. Barclays boosted their price target on shares of TC Energy from C$61.00 to C$64.00 in a research report on Monday, August 19th. Finally, ATB Capital increased their price objective on shares of TC Energy from C$56.00 to C$60.00 and gave the company a “sector perform” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$59.23.

TC Energy Price Performance

The firm has a market capitalization of C$63.67 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. The firm has a 50-day moving average of C$61.41 and a 200-day moving average of C$55.64. 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 has a 52-week low of C$44.70 and a 52-week high of C$65.39.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.89 by C$0.05. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The company had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. Equities research analysts anticipate that TC Energy will post 4.4244068 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Colin Lindley sold 2,773 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the sale, the director now directly owns 697 shares of the company’s stock, valued at approximately C$41,413.16. This trade represents a 0.00 % decrease in their position. In related news, Director Colin Lindley sold 2,773 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the transaction, the director now owns 697 shares of the company’s stock, valued at approximately C$41,413.16. This trade represents a 0.00 % decrease in their position. Also, Director Rosemary K. Stevens sold 1,200 shares of TC Energy stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the completion of the sale, the director now owns 987 shares of the company’s stock, valued at C$59,101.56. This trade represents a 0.00 % decrease in their position. Over the last three months, insiders sold 95,479 shares of company stock worth $5,860,018. Company insiders own 0.04% 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.