Wells Fargo & Company Increases TC Energy (TSE:TRP) Price Target to C$76.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price increased by Wells Fargo & Company from C$74.00 to C$76.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Wells Fargo & Company‘s price target would indicate a potential upside of 8.35% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Jefferies Financial Group boosted their price target on TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and upped their target price for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on TC Energy from C$70.00 to C$79.00 in a research report on Monday. Finally, CIBC upped their target price on TC Energy from C$66.00 to C$67.00 in a research report on Friday, November 8th. Two 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$69.54.

TC Energy Price Performance

TC Energy stock opened at C$70.14 on Wednesday. The stock’s 50 day moving average is C$64.86 and its 200 day moving average is C$58.90. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The firm has a market cap of C$72.95 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a one year low of C$43.83 and a one year high of C$70.24.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The company had revenue of C$4.08 billion for 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, research analysts expect that TC Energy will post 3.5490515 EPS for the current year.

Insider Activity

In related news, Director Mark Yeomans sold 6,500 shares of the 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. Also, Senior Officer Francois Lionel Poirier sold 118,243 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$68.38, for a total value of C$8,085,219.85. Insiders have sold 214,476 shares of company stock valued at $14,299,929 in the last 90 days. 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.