National Bankshares Raises TC Energy (TSE:TRP) Price Target to C$70.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective increased by equities research analysts at National Bankshares from C$60.00 to C$70.00 in a research note issued on Friday,BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 3.21% from the company’s previous close.

Several other brokerages also recently weighed in on TRP. Royal Bank of Canada upped their price target on TC Energy from C$67.00 to C$71.00 in a report on Friday. ATB Capital cut their target price on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 3rd. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and raised their price objective for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$66.15.

TC Energy Trading Down 1.5 %

Shares of TRP stock opened at C$67.82 on Friday. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$69.61. The company has a 50 day moving average price of C$63.74 and a 200 day moving average price of C$57.67. The stock has a market capitalization of C$70.53 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly 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 business 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%. Equities research analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insiders Place Their Bets

In other TC Energy news, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 555 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average price of C$62.82 per share, for a total transaction of C$34,865.66. Also, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of C$44.00, for a total value of C$132,000.00. Over the last 90 days, insiders have sold 76,114 shares of company stock valued at $4,704,641. 0.03% of the stock is currently owned by insiders.

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.