TC Energy (TSE:TRP) Given New C$65.00 Price Target at ATB Capital

TC Energy (TSE:TRP) (NYSE:TRP) had its price target upped by analysts at ATB Capital from C$64.00 to C$65.00 in a research note issued on Friday,BayStreet.CA reports. ATB Capital’s price target indicates a potential downside of 4.54% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. National Bankshares boosted their price target on shares of TC Energy from C$60.00 to C$70.00 in a report on Friday. Scotiabank increased their target price on shares of TC Energy from C$68.00 to C$74.00 in a research report on Friday. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. CIBC increased their target price on shares of TC Energy from C$66.00 to C$67.00 in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of TC Energy from C$66.00 to C$60.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus target price of C$66.15.

TC Energy Stock Performance

TSE:TRP traded down C$0.74 during trading hours on Friday, reaching C$68.09. 924,674 shares of the stock were exchanged, compared to its average volume of 7,000,457. 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 has a 52 week low of C$43.83 and a 52 week high of C$69.61. The firm has a 50 day simple moving average of C$63.46 and a 200-day simple moving average of C$57.39. The stock has a market capitalization of C$70.81 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The business had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. As a group, sell-side analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Buying and Selling at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was purchased at an average price of C$63.06 per share, for a total transaction of C$34,367.70. In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of TC Energy stock in a transaction dated Tuesday, September 24th. The shares were bought at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Jawad Masud sold 6,041 shares of the stock in a transaction that occurred 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 have sold a total of 76,114 shares of company stock worth $4,704,641 over the last ninety days. Corporate insiders own 0.03% 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.