TC Energy (TSE:TRP) Price Target Raised to C$76.00 at Wells Fargo & Company

TC Energy (TSE:TRP) (NYSE:TRP) had its target price lifted by stock analysts at Wells Fargo & Company from C$74.00 to C$76.00 in a research note issued on Wednesday,BayStreet.CA reports. Wells Fargo & Company‘s price target would suggest a potential upside of 10.79% from the stock’s current price.

TRP has been the subject of several other reports. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. increased their price objective on shares of TC Energy from C$70.00 to C$79.00 in a report on Monday. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from C$62.00 to C$78.00 in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Finally, Jefferies Financial Group increased 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 report on Monday, September 30th. Two equities research 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$69.54.

TC Energy Stock Down 1.4 %

TRP traded down C$1.00 on Wednesday, reaching C$68.60. 1,041,431 shares of the company traded hands, compared to its average volume of 6,852,991. The stock’s 50 day moving average price is C$64.60 and its 200-day moving average price is C$58.62. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.24. The company has a market cap of C$71.34 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

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 the consensus estimate of C$0.97 by C$0.06. The company had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, sell-side analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Activity at TC Energy

In other news, Director Greg Grant sold 12,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$62.62, for a total transaction of C$751,384.80. Also, Director Lindsay Mackay sold 3,520 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$70.00, for a total value of C$246,400.00. Insiders sold a total of 89,490 shares of company stock worth $5,749,355 in the last quarter. 0.03% of the stock is owned by 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.