TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) had its price target dropped by equities research analysts at BMO Capital Markets from C$65.00 to C$55.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential downside of 6.41% from the company’s previous close.
Several other brokerages have also weighed in on TRP. Barclays lifted their price target on TC Energy from C$61.00 to C$64.00 in a research note on Monday, August 19th. National Bankshares upped their target price on TC Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. Jefferies Financial Group upped 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 research report on Monday. Finally, UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$58.38.
Read Our Latest Analysis on TC Energy
TC Energy Stock Performance
TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The firm had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, sell-side analysts forecast that TC Energy will post 4.4244068 earnings per share for the current year.
Insider Buying and Selling at TC Energy
In other news, Director Jawad Masud sold 6,041 shares of the firm’s 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. In related news, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. Also, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the sale, the director now owns 697 shares in the company, valued at C$41,413.16. Insiders have sold 95,479 shares of company stock worth $5,860,018 in the last ninety days. 0.04% 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.
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