Scotiabank Lowers TC Energy (TSE:TRP) Price Target to C$61.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective reduced by research analysts at Scotiabank from C$62.00 to C$61.00 in a research note issued on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential downside of 5.50% from the stock’s current price.

Several other brokerages have also recently weighed in on TRP. BMO Capital Markets upped their target price on TC Energy from C$57.00 to C$65.00 in a report on Thursday, September 5th. Barclays increased their target price on shares of TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. CIBC boosted their price target on shares of TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. ATB Capital upped their price target on shares of TC Energy from C$56.00 to C$60.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company lifted their price objective on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$58.62.

TC Energy Stock Performance

TC Energy stock opened at C$64.55 on Wednesday. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The firm has a market capitalization of C$67.13 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. TC Energy has a 1-year low of C$44.70 and a 1-year high of C$64.83. The company’s 50-day moving average is C$60.69 and its 200 day moving average is C$55.31.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating 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 the consensus estimate of C$3.78 billion. Research analysts forecast that TC Energy will post 4.5431472 EPS for the current year.

Insider Activity

In other TC Energy news, Director Jawad Masud sold 6,041 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. In related news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of C$63.06 per share, with a total value of C$34,367.70. Also, Director Jawad Masud sold 6,041 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$63.50, for a total transaction of C$383,603.50. Insiders sold a total of 95,479 shares of company stock valued at $5,860,018 in the last three months. 0.04% of the stock is currently owned by corporate insiders.

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.