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

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by investment analysts at Barclays from C$67.00 to C$74.00 in a research note issued on Wednesday,BayStreet.CA reports. Barclays‘s price objective indicates a potential upside of 5.50% from the company’s previous close.

TRP has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price objective on shares of TC Energy from C$70.00 to C$79.00 in a research note on Monday. Jefferies Financial Group raised their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday. National Bankshares raised their price objective on shares of TC Energy from C$70.00 to C$71.00 in a research note on Wednesday. Finally, BMO Capital Markets raised their price objective on shares of TC Energy from C$66.00 to C$70.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$69.54.

TC Energy Trading Up 2.0 %

TC Energy stock opened at C$70.14 on Wednesday. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The firm has a market cap of C$72.95 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.24. The firm’s 50 day moving average price is C$64.86 and its two-hundred day moving average price is C$58.90.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping 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 analyst estimates of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, research analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Activity at TC Energy

In related news, Senior Officer Francois Lionel Poirier sold 118,243 shares of TC Energy stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$68.38, for a total value of C$8,085,219.85. Also, Director Colin Lindley sold 3,194 shares of TC Energy stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$68.70, for a total transaction of C$219,425.56. Following the completion of the transaction, the director now owns 697 shares in the company, valued at C$47,883.41. This trade represents a 82.09 % decrease in their position. In the last 90 days, insiders sold 214,476 shares of company stock valued at $14,299,929. 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.