TC Energy (TSE:TRP) Price Target Raised to C$65.00 at Jefferies Financial Group

TC Energy (TSE:TRP) (NYSE:TRP) had its target price lifted by investment analysts at Jefferies Financial Group from C$64.00 to C$65.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s target price indicates a potential downside of 5.25% from the stock’s current price.

A number of other research firms also recently weighed in on TRP. JPMorgan Chase & Co. raised their price target on TC Energy from C$70.00 to C$79.00 in a research report on Monday. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. CIBC boosted their price target on shares of TC Energy from C$66.00 to C$67.00 in a research note on Friday, November 8th. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TC Energy has an average rating of “Hold” and an average price target of C$69.54.

TC Energy Stock Performance

TRP traded down C$1.00 during trading hours on Wednesday, hitting C$68.60. The stock had a trading volume of 1,041,431 shares, compared to its average volume of 6,852,991. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.24. The company’s fifty day simple moving average is C$64.60 and its 200 day simple moving average is C$58.62. The stock 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. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. Equities analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

Insiders Place Their Bets

In other news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the stock in a transaction on Tuesday, September 24th. The stock was acquired at an average price of C$63.06 per share, with a total value of C$34,367.70. Also, Director Mark Yeomans sold 6,500 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total transaction of C$400,297.95. Insiders sold 89,490 shares of company stock worth $5,749,355 over the last three months. Company 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.