TC Energy (TSE:TRP) Stock Price Expected to Rise, Scotiabank Analyst Says

TC Energy (TSE:TRP) (NYSE:TRP) had its price target lifted by stock analysts at Scotiabank from C$68.00 to C$74.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 8.68% from the company’s previous close.

Other analysts have also issued research reports about the company. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and raised their price target for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. Barclays upped their price target on shares of TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. Jefferies Financial Group raised their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. CIBC cut their target price on TC Energy from C$62.00 to C$57.00 and set a “negative” rating on the stock in a research note on Wednesday, October 2nd. Finally, National Bankshares decreased their price target on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, TC Energy has an average rating of “Hold” and an average target price of C$66.15.

TC Energy Price Performance

Shares of TRP stock traded down C$0.74 on Friday, reaching C$68.09. The company’s stock had a trading volume of 924,674 shares, compared to its average volume of 7,000,457. The stock’s fifty day simple moving average is C$63.46 and its 200-day simple moving average is C$57.39. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$69.61. The company has a market capitalization of C$70.81 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. 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 announced its earnings results 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 firm 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%. Analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 555 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average price of C$62.82 per share, for a total transaction of C$34,865.66. In other news, Director Richard Prior sold 18,068 shares of TC Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. Also, Senior Officer Dawn Elizabeth De Lima purchased 555 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of C$62.82 per share, for a total transaction of C$34,865.66. Over the last three months, insiders have sold 76,114 shares of company stock valued at $4,704,641. Corporate 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.